spendthrift Flashcards
default rule
no spendthrift protection
what does a spendthrift do
prohibits B from selling, or giving away their interest
result of spendthrift trust
creditor of B cannot reach interest or distribution before B receives it
exceptions to spendthrift protections
B’s child who has support judgment
judgment C for services (atty)
gov
who is not excepted? AKA who cannot reach B’s interest before distribution?
spouses or ex spouses
what is a discretionary trust?
distributions subject to T discretion
C’s cannot compel distribution
discretionary trust
no spendthrift
C can garnish distributions
must wait until distribution made to access it
discretionary + spendthrift
NO GARNISHMENT
if no spendthrift, how can Cs get to trust assets?
attaaching present or future distributions OR
sale of B interest
is a creditor limited to what assets he can reach even if no spendthrift?
income only
not corpus
