Struck = removed from the bill ·
added = the amendment's new text.
HCASB127 4469 3591 HOUSE COMMITTEE AMENDMENTS Regular Session ENROLLEDAmendments SENATEproposed BILLby NO.House Committee on Civil Law and Procedure to Reengrossed Senate Bill No.
127 BYby SENATORSenator MILLERMiller ANAMENDMENT ACTNO. To amend and reenact Code of Civil Procedure Art.
4566(C)1 On page 2, line 6, after "curator" and tobefore enact"curator," R.S.delete "notwithstanding that a" and insert "even if the" AMENDMENT NO.
9:10262 On page 2, line 7, after "sibling" and 2374,before relative"or" toinsert donations;a comma "," AMENDMENT NO.
to3 provideOn relativepage to2, managementline of9, affairsafter of"inheritance" theand interdict;toproviderelativetodonationsmadebyacuratoronbehalfofaninterdict;before "or" insert a comma "," AMENDMENT NO.
to4 provideOn relativepage to3, theline net4, worthafter "stepsibling" delete "or" and insert a comma "," Page 1 of an1 interdict;CODING:
toWordsinstruckthroughtypearedeletionsfromexistinglaw;wordsunderscored provideare relativeadditions. to donations inter vivos and testamentary and charitable dispositions;
to provide with respect to limitationsandexceptionsondonationsandtestamentaryandcharitabledispositions in certain circumstances;
to provide with respectto tax exclusions, exemptions, and maximum limits in certain circumstances;
to provide relative to forced heirs with disabilities;
toproviderelativetoforcedportionincertaincircumstances;toprovide relative to the net worth of a forced heir with disabilities;
to provide for certain terms, conditions, and procedures;
and to provide for related matters.
Be it enacted by the Legislature of Louisiana:
Section 1.
Code of Civil Procedure Art.
4566(C) is hereby amended and reenacted to read as follows:
Art.
4566.
Management of affairs of the interdict * * * C.
A curator mayaccept donations made to the interdict.
A curator shall not Page 1 of 5 Coding:
Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
SB NO.
127 ENROLLED make donations of the property of the interdict except as provided by law.
A charitable donation inter vivos or testamentary charitable disposition made in compliance with the provisions of R.S.
9:1026 and approved by the court shall not constitute a breach of the fiduciary duty or conflict of interest by the curatorevenifthecurator,undercurator,parent,directdescendant,sibling,or descendant of a sibling of the interdict is affiliated with the charity or a recipient of the donation.
A curator without court approval may refuse, renounce, or disclaim a donation, inheritance, or bequest made to an interdict with a direct or beneficial net worth as a trust beneficiary or otherwise of one hundred million dollars or more.
* * * Section 2.
R.S.
9:1026 and 2374 are hereby enacted to read as follows:
§1026.
Interdicts;
donations;
limitations;
net worth A.
Notwithstanding the provisions of R.S.
9:1022 through 1024 and pursuant to Subsection C of this Section, upon request of the curator and undercurator, the court may authorize a curator, in the name of and on behalf of an interdict with a direct or beneficial net worth of one hundred million dollars or more as a trust beneficiary or otherwise, to make the following donations:
(1) Subject to Paragraph (2) of this Subsection and Subsection C of this Section, other than to charitable recipients, an interdict may make, directly or indirectly, donations inter vivos of money and other assets from surplus funds oftheinterdictutilizingalloraportion of theinterdict'sannual federalgifttax exclusionspursuantto26U.S.C.2503(b)andtheinterdict'slifetimecreditsand exemptionsfromfederalestatetaxandthetaxongenerationskippingtransfers, pursuant to 26 U.S.C.
2010and 2631etseq., tooneormoreof the following:
an interdict's direct descendant, sibling, descendant of a sibling, stepsibling, descendant of a stepsibling, or step-descendant of a sibling, or to one or more trusts for the benefit of the recipient or one or more class trusts for the benefit of such present and future recipients, including to grantor trusts.
Additional Page 2 of 5 Coding:
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words in boldface type and underscored are additions.
SB NO.
127 ENROLLED donations inter vivos pursuant to this Paragraph may be made, except to a stepsibling, descendant of a stepsibling, step-descendant of a sibling, or a trust for the benefit of a stepsibling or step-descendant of a sibling, subject to a maximum lifetime limit of five times the prevailing federal estate tax lifetime exemption equivalent.
(2) Inter vivos noncharitable donations authorized in Paragraph (1) of this Subsection in the name or on behalf of an interdict shall be made in equal amounts to each member of the same class and generation descending from a common parent.
Inter vivos noncharitable donations authorized in Paragraph (1)ofthisSubsectionandmadetoniecesandnephews,includingstep-niecesand step-nephews, with the same parent shall be made equally to each descendant of that parent of the same generation.
(3) If the federal gift tax has been repealed, cumulative inter vivos transfers otherwise authorized in Paragraph (1) of this Subsection are permittedsubjecttoanaggregatelifetimeamountequaltosixhundredpercent of the highest gift tax lifetime exemption in effect prior to the gift tax being repealed.Annual exclusiondonations maybemadesubjecttotheprovisions of this Section after donations in the maximum allowable amounts pursuant to Paragraph (1) of this Subsection.
(4)Noncharitabletestamentarydispositions madeupon thedeathofthe interdict,otherthanthroughintestacy,includingaself-settledtrustinwhichthe interdict is a beneficiary may only be made to a direct descendant, sibling, descendantofasiblingofaninterdict,oneormoretrustsforthebenefitofsuch recipients,orone ormoreclasstrustsforthebenefitof such presentand future recipients, including to grantor trusts, but may not be made to a stepsibling, descendant of a stepsibling, or trust for the benefit of such recipient.
Testamentary dispositions pursuant to this Paragraph shall be made in equal amounts to recipients of the same class and generation, except that a catch-up bequestmaybemadetoaninterdict'sdirectdescendant,sibling, ordescendant of a sibling to equalize a donation to a permissible recipient born after inter Page 3 of 5 Coding:
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SB NO.
127 ENROLLED vivos donations were made to other recipients of the same degree.
(5) Nothing in this Section shall be construed to annul or supersede a lawful will or trust in effect prior to a person being interdicted.
(6) Inter vivos charitable dispositions may be made to charitable recipients,includingsplitinteresttrusts,donor-advisedfunds,charitabletrusts, and private foundations, even if such donees are controlled by a parent, direct descendant,sibling, ordescendantofasiblingofaninterdict,uptoamaximum annual aggregateamountof tenpercentof theinterdict'snetworth in excessof one hundred million dollars.
An inter vivos charitable disposition pursuant to this Paragraph shall not be allowed if the interdict's net worth is less than one hundred million dollars.
B.
Inter vivos donations, testamentary and charitable dispositions, including a charitable remainder trust, to one or more charities may be made that take effect upon the death of the interdict provided that such charitable donationsshallnotexceedanaggregateofseventy-fivepercentoftheinterdict's gross estate at the time of his death for federal estate tax reporting purposes.
C.(1) The court may authorize a curator to make a donation pursuant toSubsectionAofthisSectionwhentheprocedureprovidedforinCodeofCivil Procedure Articles 4271 and 4566 is complied with and the donation does not materially impair the financial condition of the interdict and is not likely to deprive the interdict of sufficient funds to provide for his future needs and support.
The court may require the curator to provide documentation to substantiatetherequesttomakeadonationandplacetheinformationobtained under seal.
(2) For purposes of this Subsection, it is presumed that a donation does not materially impair the financial condition of the interdict or deprive the interdictofsufficientresourcesifthecuratorshowsthatthedirectorbeneficial net worth of the interdict is not less than one hundred million dollars as a trust beneficiary or otherwise, after subtracting the value of the donation.
* * * Page 4 of 5 Coding:
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words in boldface type and underscored are additions.
SB NO.
127 ENROLLED §2374.
Forced heirs;
disability;
forced portion;
limitations;
net worth NotwithstandingtheprovisionsofCivilCodeArticle1495,aforcedheir who has attained the age of majority, is permanently incapable of taking care of his person or administering his estate due to mental incapacity, physical infirmity, an inherited incurable disease, or other documented medical condition at the time of the death of a decedent who is an ancestor of such forced heir, and who has a direct or beneficial net worth in excess of fifty million dollars as a trust beneficiary or otherwise, shall have a forced portion of one dollar.
PRESIDENT OF THE SENATE SPEAKER OF THE HOUSE OF REPRESENTATIVES GOVERNOR OF THE STATE OF LOUISIANA APPROVED:
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