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spendthrift trust
(redirected from Spendthrift clause)

   Also found in: Legal, Wikipedia 0.03 sec.
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Noun1.spendthrift trust - a trust created to maintain a beneficiary but to be secure against the beneficiary's improvidence
trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the beneficiary of a generous trust set up by his father"


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8) Nonetheless, inclusion of a spendthrift clause in such a trust should provide some level of protection before the payments are received by the beneficiary.
The spendthrift clause is put in there by the person setting up the trust.
52) They further justify the enforcement of spendthrift provisions by concluding that creditors can avoid being defrauded, because they are able to determine if a trust beneficiary's interest is limited by a spendthrift clause prior to entering into a transaction.
 
 
 
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