Ad
related to: what is a spendthrift trust clauseuslegalforms.com has been visited by 100K+ users in the past month
Search results
Results from the WOW.Com Content Network
A trust generally will not be treated as a spendthrift trust unless the trust agreement contains language showing that the creator intended the trust to qualify as spendthrift. This is what is known as a spendthrift clause or spendthrift provision .
The exception is recognized to benefit minors, incompetents, and trust beneficiaries that may otherwise behave as a spendthrift would. A spendthrift trust is an example of an arrangement containing an anti-alienation provision. The governing document of such a trust provides that the trust corpus may not be reached by creditors while the ...
Spendthrift trusts include similar protections to an asset protection trust and are more widely respected in other states, but they also come with their own rules and requirements.
The spendthrift clause has three general exceptions to the protection afforded: the self-settled trusts (if the settlor of a trust is also a beneficiary of a trust), the case when a debtor is the sole beneficiary and the sole trustee of a trust, and the support payments (a court may order the trustee to satisfy a beneficiary's support ...
The AOL.com video experience serves up the best video content from AOL and around the web, curating informative and entertaining snackable videos.
A spendthrift (also profligate or prodigal) is someone who is extravagant and recklessly wasteful with money, often to a point where the spending climbs well beyond their means. Spendthrift derives from an obsolete sense of the word thrift to mean prosperity rather than frugality, [ 1 ] so a "spendthrift" is one who has spent their prosperity.
Accumulation and maintenance trust; Acts of independent significance; Ademption; Ademption by satisfaction; Administration (probate law) Administrator of an estate; Affiliation (family law) Ancillary administration; Anti-alienation clause; Asbestos bankruptcy trusts; Asbestos trust; Asset-protection trust; Attestation clause; Australian trust law
A special needs trust is a legal way to help provide for a person with a disability without disqualifying them for governmental benefits. One of the main financial risks of having a disability is ...
Ad
related to: what is a spendthrift trust clauseuslegalforms.com has been visited by 100K+ users in the past month