spendthrift trust
spendthrift trust
A trust with restrictions on alienation designed to protect the fund from dissipation by the beneficiary or seizure by the beneficiary's creditors (SA-Bankruptcy.com)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

  • spendthrift trust — see trust Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. spendthrift trust n …   Law dictionary

  • Spendthrift trust — A spendthrift trust is a trust that is created for the benefit of a person (often because he or she 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… …   Wikipedia

  • spendthrift trust — A trust created to provide a fund for the maintenance of a beneficiary and at the same time to secure the fund against his improvidence or incapacity; provisions against alienation of the trust fund by the voluntary act of the beneficiary or by… …   Black's law dictionary

  • spendthrift trust — noun a trust created to maintain a beneficiary but to be secure against the beneficiary s improvidence • Hypernyms: ↑trust * * * noun : a trust created to provide a fund for the maintenance of another and to secure it (as by withholding from him… …   Useful english dictionary

  • spendthrift trust — noun 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… …   Wiktionary

  • spendthrift trust — A trust created to provide a fund for the maintenance of the beneficiary which shall be secure against his improvidence or incapacity. Huestis v Manley, 110 Vt 413, 8 A2d 644. A trust which restrains either voluntary or involuntary alienation by… …   Ballentine's law dictionary

  • spendthrift trust — Law. a trust that provides a fund for a beneficiary, as a minor, with the title vested so that the fund or its income cannot be claimed by others, as creditors of the beneficiary. Also called sheltering trust. * * * …   Universalium

  • trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… …   Law dictionary

  • spendthrift — spend·thrift 1 / spend ˌthrift/ n: a person who spends money foolishly, profusely, or wastefully spendthrift 2 adj 1: of, relating to, or being a spendthrift 2: of or relating to a spendthrift trust Merriam Webster’s Dictionary of Law. M …   Law dictionary

  • trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… …   Black's law dictionary

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