Louisiana Revised Statutes 9:2047 – A. A divorce of the settlor revokes every provision that may be revoked or modified by the settlor in an inter vivos trust designating or appointing the settlor’s former spouse unles
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Terms Used In Louisiana Revised Statutes 9:2047
- Inter vivos: Transfer of property from one living person to another living person.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Trustee: A person or institution holding and administering property in trust.
A. A divorce of the settlor revokes every provision that may be revoked or modified by the settlor in an inter vivos trust designating or appointing the settlor’s former spouse unless expressly provided otherwise in the trust instrument or in a judgment or a property settlement agreement.
B. A trustee with no actual knowledge of the divorce, judgment, or property settlement agreement is not liable for actions taken in good faith regarding the settlor’s former spouse.
Acts 2015, No. 219, §1.