What Does Spendthrift Clause Mean In Estate Planning?
A clause added to a trust to protect assets in that trust from a beneficiary’s creditors. This can include protection from a spouse in divorce.
Example Of Spendthrift Clause In Regards To Estate Planning
My dad put a spendthrift clause in his trust so even though I was supposed to get distributions already the trustee won’t give me any money because I’m in the middle of a nasty divorce and they don’t want it taken from me.