What does spendthrift trust mean?
Definitions for spendthrift trust
spend·thrift trust
This dictionary definitions page includes all the possible meanings, example usage and translations of the word spendthrift trust.
Princeton's WordNet
spendthrift trustnoun
a trust created to maintain a beneficiary but to be secure against the beneficiary's improvidence
Wiktionary
spendthrift trustnoun
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.
ChatGPT
spendthrift trust
A spendthrift trust is a type of legal arrangement in which an independent trustee has full authority over the trust assets and decides how the trust funds should be spent or distributed to beneficiaries. It is designed to protect the beneficiaries' assets from their own potential mismanagement, creditors, or legal actions. This type of trust prevents a beneficiary from selling their future interest in the trust or using it as a collateral for a loan.
Wikidata
Spendthrift trust
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.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of spendthrift trust in Chaldean Numerology is: 5
Pythagorean Numerology
The numerical value of spendthrift trust in Pythagorean Numerology is: 3
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"spendthrift trust." Definitions.net. STANDS4 LLC, 2024. Web. 26 May 2024. <https://www.definitions.net/definition/spendthrift+trust>.
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