a limitation of the beneficiaries' rights to income and principal from the trust that prevents them from transferring, assigning or selling their interests to anyone, voluntarily or involuntarily
a provision in a trust that the interest of the beneficiary in the income or in the principal or in both may not
Spendthrift provision means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary's interest by the beneficiary.
A directive of a trust which restrains both the voluntary and involuntary transfer of a beneficiary's interest. Protects trust assets from lawsuits, creditors, divorces. May not be valid against the IRS or child support payments, or to self-settled trusts where the grantor is a current beneficiary.
This stipulates that, to the extent permitted by law, policy proceeds shall not be subject to the claims of creditors of the beneficiary or policy- owner.
A clause in a trust that prevents a beneficiary from spending an inheritance without restraint and also may prevent creditors from reaching the beneficiary's interest in the trust.
A trust with restrictions on alienation designed to protect the fund from dissipation by the beneficiary or seizure by the beneficiary's creditors.
