TRUST, DONATION - F1DTRU2: This is a donation made in trust, with the trustee given extensive authority to deal with the trust property and determine distributions of income. This trust terminates upon a specified birthday of the beneficiary. Note that La. R.S. 9:2092 allows for the recording of an extract of a trust instrument. For donation of a negotiable instrument, see La. R.S. 10:3-203(e). For relaxed rules allowing deviation from trust's administrative provisions or its early termination, see La. R.S. 9:2026(1). A full interdict cannot make an inter vivos donation. See La. C.C.Art 1482 for rules relating to proof of incapacity to donate. See also La. R.S. 9:2087 on the trustee’s right to delegate duties, La. R.S. 9:2090 on “prudent administration” and La. R.S. 9:2158 et seq on principal – interest adjustments. ********** ACT OF DONATION IN TRUST
STATE OF LOUISIANA
BY [_SETTLOR_] TO [_TRUSTEE_]
PARISH OF [_PARISH_]
BE IT KNOWN, that on [_Date_], before me, [_NOTARY_], a Notary Public, duly commissioned and qualified in and for the aforementioned state and parish, and in the presence of the witnesses hereinafter named and undersigned: PERSONALLY CAME AND APPEARED: [_SETTLOR_], whose Tax Identification Number is [_TIN_1_], [_settlor_status_], domiciled in [_Settlor_Parish_], whose present mailing address is [_Settlor_Address_]; hereafter referred to as the "Settlor"; who, after being duly sworn by me, declared that in accordance with the laws of the State of Louisiana, and in particular the Louisiana Trust Code (which laws shall govern this trust) and in consideration of the affection which the Settlor has and bears for: [_BENEFICIARY_], whose Tax Identification Number is [_TIN_2_], [_beneficiary_status_] domiciled in [_Beneficiary_Parish_], whose present mailing address is [_Beneficiary_Address_]; hereafter referred to as the "Beneficiary"; the Settlor does by these presents irrevocably give, grant and donate unto [_TRUSTEE_] and his successors as Trustee, (hereafter collectively the "Trustee" the following described property: [_Property_Description_] which has a value of [_$Value_], the property to be held by the Trustee in trust, together with any other property given to the trust by the Settlor or others, under the following terms and conditions: 1. TRUST The trust shall be known as the [_Name_] Trust (hereafter the "Trust"), and [_BENEFICIARY_] shall be sole beneficiary of principal and income. The initial principal or corpus of the trust shall be the property described above.
2. TRUSTEE [_TRUSTEE_] as the initial trustee of the trust, and any successor as Trustee, shall have all of the powers that may be conferred now or hereafter upon trustees under applicable law, including, but not limited to, the Louisiana Trust Code. In the event that [_TRUSTEE_] should die, resign, refuse or for any reason fail or cease to serve as Trustee, [_SUCCESSOR_] shall serve as Trustee. The initial and any successor Trustee shall be held harmless from any liability in connection with administration of this trust, except liability for loss caused by breach of the duty of loyalty to the trust or bad faith breach of trust. [_TRUSTEE_] and any successor Trustee shall be entitled to receive reasonable compensation out of trust property, and shall render such accountings as are required by law. No trustee serving hereunder shall be obligated to require an accounting from, nor incur any liability for any act or omission of, any predecessor trustee. No Trustee serving hereunder shall be required to furnish bond or other security. 3. INCOME The Trustee shall distribute as much income from the trust as the Trustee determines is reasonably necessary to provide for the Beneficiary's health, maintenance, support and education, taking into consideration the Beneficiary's accustomed manner of living and the Beneficiary's other assets and sources of support. The remainder of trust income shall be accumulated. If the Trustee determines the current income from the trust is insufficient to provide for the Beneficiary's health, maintenance, support and education, as outlined above, the Trustee shall distribute as much of the principal of the trust as the Trustee deems necessary to provide for the Beneficiary's health, maintenance, support and education. 4. TERMINATION The trust shall terminate on the [_birthday_] of the Beneficiary, on [_term_date_], but shall terminate upon the death of the Beneficiary if that first occurs. Upon termination the Trustee shall distribute the trust principal, together with accumulated income, free of trust, to the Beneficiary, if living, or if not to the Beneficiary's succession representative, if any, otherwise to the Beneficiary's heirs and legatees, also free of trust. 5. REVOCABILITY The Trust shall be irrevocable, but the Settlor shall be allowed to add to the principal of the trust, by donation inter vivos or mortis causa. 6. ALIENATION Except as allowed by relevant federal or state law regarding disclaimers or renunciations, the Beneficiary shall not have any right or power to sell, assign, convey, encumber or in any manner dispose of any part of his or her interest or share in the trust or in any income accruing or to accrue therefrom, and any such sale, assignment, conveyance, encumbrance or other disposition shall be wholly void; nor shall such interest or share be subject to seizure by any character of writ or proceeding at law or equity by or for the benefit of any person, or any federal, state or other governmental authority asserting any debt, claim or demand against the Beneficiary. @@@Usufruct_Waiver@@@ The property donated here shall be free of any usufruct in favor of the Settlor. @@@Collation_Waiver@@@ This donation is made as an extra portion, not subject to collation.
@@@Tax_Receipts@@@ Tax receipts and/or certificates are annexed hereto showing payment of all state, parish, municipal and levee district taxes and past due charges for local improvement assessments assessed against the property. @@@Conveyance_Cert.@@@ By reference to the certificate of the Register of Conveyances for the Parish of Orleans it does not appear that said property has been alienated by the Settlor. The parties are aware that the certificate attached hereto is open, being not yet dated and signed, and relieve and release the undersigned notary from all responsibility and liability in connection therewith. AND ALSO PERSONALLY CAME AND APPEARED: [_TRUSTEE_], who, after being duly sworn, declared to me, Notary, that [_he_she_] expressly accepts appointment as Trustee, accepts the donation made herein in trust and agrees to be bound by the terms and conditions of this act. THUS DONE AND SIGNED in multiple originals on the day and date first above mentioned, in the presence of the undersigned competent witnesses, who hereunto sign their names with the said appearers and me, Notary, after due reading of the whole. WITNESSES: _________________________ [_WITNESS_1_]
______________________________ [_SETTLOR_]
_________________________ [_WITNESS_2_]
___________________________ [_TRUSTEE_]
____________________________________________ [_NOTARY_] NOTARY PUBLIC Bar Roll Number [_BAR ROLL NUMBER_]
WORD KEY: [_SETTLOR_]
[_TRUSTEE_] [_PARISH_] [_Date_] [_NOTARY_]
[_SETTLOR_]
[_TIN_1_] [_settlor_status_] [_Settlor_Parish_] [_Settlor_Address_]
********** EXPLANATION: Name of the donor establishing the trust. For alternate appearances, see document Appearances - F1AAPP1. Name of the initial trustee. Parish of execution. Date of execution. Notary before whom donation executed. See README Special Note No. 3 on USE OF INITIALS. Name of the donor establishing the trust. For alternate appearances, see document Appearances - F1AAPP1. Tax Identification Number of the settlor. See README Special Note No. 2 on TIN. Indicate the marital status of the settlor. Parish of settlor's domicile. Mailing address of settlor.
[_BENEFICIARY_]
[_TIN_2_] [_beneficiary_status_] [_Beneficiary_Parish_] [_Beneficiary_Address_] [_TRUSTEE_] [_Property_Description_]
[_$Value_] [_Name_] [_BENEFICIARY_] [_TRUSTEE_] [_SUCCESSOR_] [_TRUSTEE_] [_birthday_] [_term_date_] @@@Usufruct_Waiver@@@
@@@Collation_Waiver@@@ @@@Tax_Receipts@@@
@@@Conveyance_Cert.@@@
[_TRUSTEE_] [_he_she_] [_WITNESS_1_] [_WITNESS_2_] [_SETTLOR_] [_TRUSTEE_] [_NOTARY_]
[_BAR ROLL NUMBER_]
Full name of the beneficiary. For alternative appearances, see document Appearances F1AAPP1. Tax Identification Number of the beneficiary. See README Special Note No. 2 on TIN. Indicate the marital status of the beneficiary. Parish of beneficiary's domicile. Mailing address of beneficiary. Name of the initial trustee. Description of property donated. For immovable property, include the municipal number or address of the property donated. Value of property donated (with $). Name of the trust. Full name of the beneficiary. Name of the initial trustee. Name of the person who is to serve as successor trustee. Name of the initial trustee. Birthday of the beneficiary on which the trust is to terminate. Date on which the trust is to terminate. Optional provision for waiver of usufruct, where the beneficiary is a minor child of the settlor. Optional provision for waiver of collation. Include statement and receipts/certificates showing payment of taxes in conveyances of real property located in municipal corporations exceeding 300,000 inhabitants, as per La. R.S. 9:2921. Where real property located in the Parish of Orleans is conveyed, La. R.S. 9:2928 requires attachment of a certificate of the Register of Conveyances showing that the seller has not alienated the property. Name of the initial trustee. As appropriate for the trustee. Name of first witness. Name of second witness. Name of the donor establishing the trust. Name of the initial trustee. Notary before whom donation executed. See README Special Note No. 3 on USE OF INITIALS. Bar Roll Number of Attorney.