La. Rev. Stat. § 9:2159
This is the official text of La. Rev. Stat. § 9:2159, part of Louisiana’s Rev. Stat — part of the compiled statutory law of Louisiana, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
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When the power to adjust is denied
Official statutory text
A trustee shall not make an adjustment under R.S. 9:2158:
(1) If the existence or exercise of the power to adjust would cause ineligibility for the estate-tax or gift-tax marital deduction or charitable deduction.
(2) That diminishes the value for gift-tax purposes of the income interest in a trust to which a person transfers property with intent to qualify for a gift tax exclusion;
(3) If possessing or exercising the power to make an adjustment causes an individual to be treated as the owner of all or part of the trust for income tax purposes, and the individual would not be treated as the owner if the trustee did not possess the power to make an adjustment; or
(4) If the terms of the trust instrument clearly deny the trustee the power to make adjustments.
Acts 2001, No. 520, §4; Acts 2003, No. 480, §1.
(1) If the existence or exercise of the power to adjust would cause ineligibility for the estate-tax or gift-tax marital deduction or charitable deduction.
(2) That diminishes the value for gift-tax purposes of the income interest in a trust to which a person transfers property with intent to qualify for a gift tax exclusion;
(3) If possessing or exercising the power to make an adjustment causes an individual to be treated as the owner of all or part of the trust for income tax purposes, and the individual would not be treated as the owner if the trustee did not possess the power to make an adjustment; or
(4) If the terms of the trust instrument clearly deny the trustee the power to make adjustments.
Acts 2001, No. 520, §4; Acts 2003, No. 480, §1.
Status: in_force · Read it on the official government site
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