2013 Louisiana Laws
Revised Statutes
TITLE 9 - Civil Code-Ancillaries
RS 9:1953 - Assignment of interest in trust and termination of trust for mixed private and charitable purposes
§1953. Assignment of interest in trust and termination of trust for mixed private and charitable purposes
A. A private beneficiary of a trust for mixed private and charitable purposes, including a spendthrift trust, may at any time gratuitously assign to a charitable principal beneficiary of the trust a fraction or all of his private interest in the trust, unless the trust instrument specifically contains a special needs provision or provides otherwise. An interest that is assignable only to a charitable principal beneficiary of the trust shall not be deemed to be subject to voluntary alienation for purposes of R.S. 9:2004.
B. If the trust instrument provides for the termination of the trust at the end of the specified term of the private interests, the trust may be terminated early as to the portion of the trust that, for any reason, no longer has a private beneficiary.
Acts 2012, No. 742, §1.
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