Art. 4269.1. Placement of minor's property in trust

           At any time during his administration, a tutor may apply to the court for authorization to place some or all of the minor's property in trust in accordance with the Louisiana Trust Code or, for a beneficiary who is disabled as defined in 42 U.S.C. 1382c(a)(3), in a trust qualified under 42 U.S.C. 1396p(d)(4)(C) in accordance with the law of any state. The trust instrument shall name the minor as sole beneficiary of the trust, shall name a trustee, shall impose maximum spendthrift restraints, and may allow the trust to last for the lifetime of the beneficiary. Except for trusts qualified under 42 U.S.C. 1396p(d)(4)(A) or 1396p(d)(4)(C), the trust shall, however, be subject to termination at the option of the beneficiary upon attaining the age of majority. If the minor fails to attain majority, the trust shall be subject to termination at the option of his heirs or legatees. The court may, upon application, make such changes in the trust instrument as may be advisable. Upon creation of the trust, the tutor shall be entitled to no further commissions with respect to the trust property.

           Added by Acts 1980, No. 276, §1; Acts 2024, No. 163, §1.