TRUSTS: Provides for trusts for minors and persons with disabilities. (8/1/24)

This bill updates Louisiana laws to allow guardians and curators to place property and settlement funds for minors and disabled adults into protective trusts. It permits these funds to be managed by a trustee under specific rules, including the option to use special needs trusts that help disabled individuals keep government benefits. The legislation establishes that most trusts can end when the beneficiary reaches adulthood, while trusts for permanently disabled individuals may continue until their death. Additionally, the bill sets a minimum threshold of fifty thousand dollars before courts can order smaller settlement amounts for minors in state custody to be placed in trust.