The Porridge of Disclosure to Beneficiaries Too Hot, Too Cold, or Just Right

Abstract

The purpose of this paper is three-fold. First, the authors wish to provide the reader with a summary of all sources of Texas law which define and discuss a fiduciary’s duty to make a full and accurate disclosure. Secondly, the authors will attempt to provide practical suggestions for both the fiduciary and the (disgruntled) beneficiary to consider from the standpoint of prosecuting and defending allegations of this sort. Third, the authors will suggest how much disclosure by a fiduciary is enough, subject to the understanding that the authors’ opinion could be affected by facts of specific cases which are unknown to the authors.