#spendthrift_trust

Spendthrift trust

Trust in which the assets are controlled by a third party and not the beneficiary

In trust law, a spendthrift trust is a trust that is created for the benefit of a person that gives an independent trustee full authority to make decisions as to how the trust funds may be spent for the benefit of the beneficiary. Creditors of the beneficiary generally cannot reach the funds in the trust, and the funds are not actually under the control of the beneficiary.

Tue 22nd

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