Louisiana Revised Statutes 9:2194 – Charge on beneficiary’s interest
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Terms Used In Louisiana Revised Statutes 9:2194
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
If a beneficiary is liable to a trustee as such, his interest in the trust estate is subject to a charge for the amount of his liability; but a trustee is not entitled to a charge on a beneficiary’s interest in the trust estate to secure a beneficiary’s liability not connected with the administration of the trust, unless the beneficiary contracts to give him such a charge.