Annual Trust Accounting (Louisiana Trust Code, La. R.S. § 9:2088)

ANNUAL TRUST ACCOUNTING

Pursuant to the Louisiana Trust Code, La. R.S. § 9:2088

I. TRUST IDENTIFICATION

II. TRUSTEE IDENTIFICATION

III. STATUTORY RECIPIENTS OF THIS ACCOUNT (§ 9:2088)

For a revocable trust, § 9:2088(A) places the accounting duty to the settlor only. Otherwise, identify each beneficiary or legal representative receiving the account. For a first annual account, § 9:2088(B) permits the calendar year in which the trustee became responsible for trust property or an initial period of no more than twelve months, and requires the account within ninety days after that period expires.

IV. SUMMARY OF ACCOUNT

V. SCHEDULE OF RECEIPTS — CASH (§ 9:2088(B))

A. Income Receipts

B. Principal Receipts

VI. SCHEDULE OF DISBURSEMENTS — CASH (§ 9:2088(B))

A. Ordinary Administration Expenses

B. Distributions to Beneficiaries

C. Taxes

VII. RECEIPTS AND DELIVERIES OF NON-CASH TRUST PROPERTY (§ 9:2088(B))

A. Receipts of Non-Cash Property

B. Deliveries / Distributions of Non-Cash Property

VIII. LIST OF TRUST PROPERTY — START OF PERIOD (As of [__/__/____])

IX. LIST OF TRUST PROPERTY — END OF PERIOD (§ 9:2088(B)) (As of [__/__/____])

X. STATEMENT OF LIABILITIES

☐ The Trust has no outstanding liabilities as of the end of the accounting period.

XI. TRUSTEE COMPENSATION AND AGENTS HIRED (§ 9:2181)

A. Trustee Compensation

B. Agents Hired by Trustee

C. Related-Party Transactions

☐ The Trustee did not engage in any transactions during the accounting period with the Trustee personally, with any entity in which the Trustee holds a beneficial interest, or with any agent related to the Trustee, other than as fully disclosed above.

☐ The following related-party transactions occurred during the accounting period and are fully disclosed for the beneficiaries' review:

[____________________________________________________________]

[____________________________________________________________]

XII. BENEFICIARY'S RIGHT TO INSPECT (§ 9:2089)

Upon a beneficiary's request at reasonable times, La. R.S. § 9:2089 requires the Trustee to provide complete and accurate information about the nature and amount of trust property and to permit the beneficiary or the beneficiary's authorized person to inspect the trust's subject matter and the accounts, vouchers, and other trust-related documents. This is a separate request route; it does not change § 9:2088(A)'s settlor-only recipient rule for a revocable trust account. The statute does not require a written request; this form provides a written-request option for recordkeeping.

XIII. STATEMENT REGARDING BENEFICIARY CLAIM PERIODS (La. R.S. § 9:2234)

NOTICE REGARDING CLAIM PERIODS

La. R.S. § 9:2234 governs beneficiary actions against a trustee. For damages arising from matters disclosed in an accounting, the two-year period runs from rendering the relevant account by actual delivery or mail to the beneficiary or, if the beneficiary lacks capacity, the legal representative, at the addresses specified in the statute. The action must in all events be filed within three years after the account for that period is rendered. A beneficiary who was a minor when the account was rendered has a separate two-year starting rule; other actions have a separate final-account rule. The two- and three-year periods are peremptive and cannot be interrupted or suspended. Written beneficiary approval under § 9:2088(D) is conclusive only as to matters disclosed. Obtain Louisiana legal advice promptly about any claim.

XIV. BENEFICIARY APPROVAL (§ 9:2088(D))

Use this block only for a beneficiary or legal representative receiving an account under the nonrevocable-trust route. The undersigned beneficiary or representative hereby:

☐ APPROVES this Annual Accounting as to matters disclosed in it. Pursuant to La. R.S. § 9:2088(D), this written approval is conclusive against the beneficiary only with respect to those disclosed matters.

☐ OBJECTS to the following items / aspects of this Annual Accounting (specify):

[____________________________________________________________]

[____________________________________________________________]

Beneficiary / Legal Representative Signature: [________________________________]

Print Name: [________________________________]

Capacity (if representative): [________________________________]

Date: [__/__/____]

XV. BENEFICIARY OBJECTION AND ENFORCEMENT MECHANISM (§§ 9:2088, 9:1789, 9:2235)

A beneficiary who has questions or objections to any item in this Annual Accounting is encouraged to contact the Trustee in writing within thirty (30) days of receipt at the address in Section II.

If the matter is not resolved informally, any court action should be brought in the proper court determined under La. R.S. § 9:2235: [____________________]. The following provisions may be relevant:

• La. R.S. § 9:1789 — Removal of a trustee by the proper court for sufficient cause;
• La. R.S. § 9:2088 — Trustee duty to keep and render clear and accurate accounts;
• La. R.S. § 9:2234 — Time limits on beneficiary actions against a trustee;

The Trustee may, under La. R.S. § 9:2088(D), apply to the proper court for contradictory approval of this Annual Accounting if a beneficiary or legal representative fails or refuses to approve it in writing.

XVI. TRUSTEE CERTIFICATION

I, the undersigned Trustee, certify by my signature below that:

1. I have reviewed the foregoing Annual Trust Accounting and each schedule and statement attached;
2. The information set forth is true, correct, and complete to the best of my knowledge and belief, based on the books, records, and supporting documentation of the Trust;
3. All receipts and disbursements of cash, all receipts and deliveries of other trust property, the list of all trust property at the end of the accounting period, all liabilities, all trustee compensation, and all agents hired (including any related-party agents) for the accounting period stated above are disclosed in detail;
4. This Annual Accounting is rendered in compliance with La. R.S. § 9:2088; and
5. I have continued to act in accordance with my duties under La. R.S. §§ 9:2082, 9:2089, and 9:2091.

Executed on [__/__/____] at [____________________], Louisiana.

Trustee Signature: [________________________________]

Print Name: [________________________________]

Capacity: [________________________________]

XVII. DELIVERY RECORD

Record each actual recipient and delivery. For a revocable trust, identify the settlor as the account recipient under § 9:2088(A). For the beneficiary route, identify the beneficiary or legal representative. This record does not itself establish receipt by a person not actually served.

I certify that the completed entries above accurately describe the delivery or mailing I performed.

Signature: [________________________________]

Printed name: [________________________________]

Date: [__/__/____]

SOURCES AND REFERENCES

• La. R.S. § 9:1721 (Louisiana Trust Code title)
• La. R.S. § 9:2088 (Accounting) — https://www.legis.la.gov/legis/LawPrint.aspx?d=106914
• La. R.S. § 9:2089 (Furnishing of Information) — https://www.legis.la.gov/legis/Law.aspx?d=106915
• La. R.S. § 9:2091 (Control and Preservation of Trust Property) — https://www.legis.la.gov/legis/Law.aspx?d=106917
• La. R.S. § 9:2082 (Beneficiary Interest and Impartiality) — https://legis.la.gov/legis/Law.aspx?d=106908
• La. R.S. § 9:2141 (Allocation to income and principal) — https://legis.la.gov/legis/Law.aspx?d=106948
• La. R.S. § 9:2181 (Trustee Compensation) — https://legis.la.gov/legis/Law.aspx?d=106974
• La. R.S. § 9:1789 (Removal of Trustee) — https://legis.la.gov/legis/Law.aspx?d=106775
• La. R.S. § 9:2234 (Beneficiary Action Periods) — https://legis.la.gov/legis/Law.aspx?d=106998
• La. R.S. § 9:2235 (Proper Court) — https://legis.la.gov/legis/Law.aspx?d=725383
• La. R.S. § 14:123(A) (Perjury requires oath or equivalent affirmation) — https://legis.la.gov/Legis/Law.aspx?d=78291