§1973. Shifting interest in principal
A.(1) Except as to the legitime in trust, the trust instrument may provide that the
interest of an original or a substitute principal beneficiary of an irrevocable trust vests in one
or more of his descendants upon the death of the beneficiary either during the term of the
trust or at its termination. The trust instrument may provide that the interest vests in another
person if the beneficiary dies without descendants.
(2) With respect to the legitime in trust, the trust instrument may provide that the
interest of an original or a substitute principal beneficiary vests in another person upon the
death of the beneficiary either during the term of the trust or at its termination, only if a
beneficiary dies intestate and without descendants.
B. The trust instrument may provide that the interest of a designated principal
beneficiary of a revocable trust shifts to another person, if the substitution occurs no later
than the date when the trust becomes irrevocable.
Added by Acts 1974, No. 160, §1. Acts 1989, No. 111, §1; Acts 1997, No. 254, §1;
Acts 2010, No. 390, §1; Acts 2016, No. 544, §1.