Opinion ID: 1690275
Heading Depth: 1
Heading Rank: 3

Heading: undisbursed income

Text: While the right to receive the undisbursed income had vested in Mr. Marshall and subsequently in his heirs, title to the funds at issue has remained with the trustee. The undisbursed income merely represents an obligation that the trustee owed Mr. Marshall, both as result of his fiduciary status as trustee, and his obligations under the terms of the trust itself. La.R.S. 9:2061. [8] Whether or not these funds actually exist, in trust accounts or otherwise, is irrelevant. Until the funds were disbursed in accordance with the trust code and the provisions of the trusts, they were not the property of Mr. Marshall. In Reynolds, supra, this Court noted: Title to the property vested in the trustee. LSA-R.S. 9:1731. The undistributed income from the trust was under the control and dominion of the trustee. It accrued to the trustee during the term of the trust as a civil fruit unseparated from the corpus of the trust. LSA-C.C. art. 489 and former art. 499. Ms. Reynolds had no right to this money until the trustee decided to distribute it. The undistributed income did not fall into the community. Reynolds, supra at 1142. (Footnotes omitted.)