A spendthrift trust is a trust that is created for the benefit of a person (often unable to control his spending) 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...
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http://en.wikipedia.org/wiki/Spendthrift_trust
A trust set up for the benefit of someone whom the grantor believes would be incapable of managing his/her own financial affairs.
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http://jec.unm.edu/manuals-resources/glossary-of-legal-terms
A trust set up for the benefit of someone who the grantor believes would be incapable of managing his or her own financial affairs.
Found on
http://www.encyclo.co.uk/local/21681
A trust created for a beneficiary who may be irresponsible with money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiti...
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http://www.nolo.com/dictionary/spendthrift-trust-term.html
Trust set up for benefit of someone whom grantor believes would be incapable of managing his/her own financial affairs, and to keep money out of hands of creditors.
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http://www.pacourts.us/learn/legal-glossary
[
n] - a trust created to maintain a beneficiary but to be secure against the beneficiary`s improvidence
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http://www.webdictionary.co.uk/definition.php?query=spendthrift%20trust
noun a trust created to maintain a beneficiary but to be secure against the beneficiary`s improvidence
Found on
https://www.encyclo.co.uk/local/20974
No exact match found.
