Senate Concurrent Resolution No. by Senator Miller urges the Louisiana State Law Institute to conduct a study on the use of trusts with extended durations. The resolution highlights the current limitations imposed by the Louisiana Trust Code on the duration of trusts, which are designed to prevent long-term property restrictions and ensure assets remain productive. However, as other states adopt more flexible trust laws, Louisiana risks losing trust-related business and assets as residents may choose to establish trusts in those states.

The resolution calls for a comprehensive review of the Louisiana Trust Code to align it with modern industry practices and address the complex estate planning needs of residents. It emphasizes the importance of considering various policy implications, such as wealth concentration, property circulation, taxation, and litigation, in any potential revisions. The Louisiana State Law Institute is tasked with reporting its findings and recommendations to the legislature by March 1, 2027.