§ 9:2030 — Combination and division of trusts

Louisiana § 9:2030

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

Text

A trustee may combine two or more trusts into one trust, or divide a trust into two or more trusts, on written notice to all beneficiaries having a current interest in the trust or trusts, if the combination or division does not impair the rights of any beneficiary or adversely affect the accomplishment of the purposes of the trust or trusts. The division of a trust shall be based on the fair market value of the assets of the trust on the effective date of the division and need not result in a uniform interest in each asset. After the division, discretionary distributions need not be made uniformly from each of the separate trusts. A trust instrument may modify these rules, either to expand or to restrict the trustee's authority to combine or divide a trust.

Legislative History

Acts 1995, No. 344, §2; Acts 2001, No. 594, §2.