2015 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. Unless the trust instrument provides otherwise or specifically contains a special needs provision, a private beneficiary of a trust for mixed private and charitable purposes may at any time assign to a charitable principal beneficiary of the trust a fraction or all of the private beneficiary's interest in the trust. An interest in a spendthrift trust may be assigned only gratuitously. 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 by the charitable principal beneficiary as to the portion of the trust that, for any reason, no longer has a private beneficiary.
Acts 2012, No. 742, §1; Acts 2015, No. 219, §1.
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