§ 9:1953 — Assignment of interest in trust and termination of trust for mixed private and

Louisiana § 9:1953

• Jurisdiction: Louisiana
• Title 9: Civil Code-Ancillaries

Text

§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.

Legislative History

Acts 2012, No. 742, §1; Acts 2015, No. 219, §1.