The bill amends several articles of the Louisiana Code of Civil Procedure to enhance the management of trusts for minors and individuals with disabilities. It allows tutors to place a minor's property in trust, including provisions for beneficiaries who are disabled, and specifies that the trust must name the minor as the sole beneficiary and impose spendthrift restraints. The bill also clarifies that trusts can last for the beneficiary's lifetime and outlines conditions under which the trust may be terminated, either upon the beneficiary reaching the age of majority or if they fail to do so, at the option of their heirs.
Additionally, the bill addresses the management of property for interdicts, allowing curators to place an interdict's property in trust with similar provisions regarding termination. It emphasizes the importance of maintaining government benefits for disabled individuals by ensuring that certain trusts are irrevocable during the interdict's life and terminate upon their death. The amendments aim to provide clearer guidelines for the establishment and management of trusts, ensuring that the rights and needs of minors and individuals with disabilities are adequately protected.