|
|
Definition of Spendthrift trust
1. Noun. A trust created to maintain a beneficiary but to be secure against the beneficiary's improvidence.
Definition of Spendthrift trust
1. Noun. (legal) A trust that is created for the benefit of a person (often because that beneficiary is unable to control 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, thus keeping the funds in the trust beyond the reach of creditors. ¹
¹ Source: wiktionary.com
Lexicographical Neighbors of Spendthrift Trust
Literary usage of Spendthrift trust
Below you will find example usage of this term as found in modern and/or classical literature:
1. A Trustee's Handbook by Augustus Peabody Loring (1907)
"... the gift to the beneficiary is unlimited, yet the same result is practically
reached by what is commonly known as a spendthrift trust ; that is to say, ..."
2. South Eastern Reporter by West Virginia Supreme Court of Appeals, West Publishing Company, South Carolina Supreme Court (1922)
"In the instant case the provisions of the will do not expressly create a "spendthrift
trust," but, on the contrary, the testator's direction, in item 6, ..."
3. Estates, Future Interests, and Illegal Conditions and Restraints in Illinois by Albert Martin Kales (1920)
"Only where there is added to the trusteeship express restraints on alienation is
it justifiable to call the creation a spendthrift trust. ..."
4. Commentaries on the Law of Trusts and Trustees: As Administered in England by Charles Fisk Beach (1897)
"Where a spendthrift trust Fails The essential idea of a spendthrift trust is that
of a trust for ... This is the only raison d' etre of a spendthrift trust. ..."
5. A Treatise on the Law of Marriage, Divorce, Separation, and Domestic Relations by James Schouler, Arthur Walker Blakemore (1921)
"Enforcement Against Beneficiary Under spendthrift trust. The wife of a beneficiary
under a spendthrift trust cannot subject to her alimony decree the trust ..."
Other Resources:
