Louisiana Revised Statutes 9:1978 – Shifting interest in principal if beneficiary is descendant of settlor
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Terms Used In Louisiana Revised Statutes 9:1978
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
The trust instrument may provide that the substitute beneficiaries under La. Rev. Stat. 9:1973 are one or more of settlor’s descendants who are in being and ascertainable on the date of death of the principal beneficiary.
Added by Acts 1982, No. 455, §1; Acts 1997, No. 254, §1.