Senate Resolution No. 133, introduced by Senator Abraham, establishes a Task Force on Payable-on-Death and Transfer-on-Death Accounts in Louisiana. The task force is tasked with studying the use of these accounts, which allow for the designation of beneficiaries without transferring ownership during the account holder's lifetime. The resolution highlights the recent recognition of transfer-on-death accounts in Louisiana and the resulting legal uncertainties and litigation surrounding both types of accounts. The task force will evaluate the need for revisions to state laws and provide recommendations to ensure clarity, consistency, and alignment with Louisiana's civil law tradition.

The task force will consist of appointed members, including private attorneys with expertise in tax and estate planning, representatives from the banking and securities industry, and members of the Louisiana State Law Institute. It will consider various legal aspects, such as the interaction of these accounts with forced heirship laws, community property rights, and the treatment of accounts as nonprobate transfers. The task force is required to submit a written report with findings and legislative proposals to the legislature and the David R. Poynter Legislative Research Library by March 1, 2027. The task force will convene for its first meeting by October 1, 2026, and will operate without compensation, except for per diem or expense reimbursements.