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Simple English definitions for legal terms

Spendthrift Trust

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A quick definition of Spendthrift Trust:

A spendthrift trust is a special type of trust that helps protect the money or property that someone leaves for another person. The person who gets the money or property can't sell it or give it away, and someone else called a trustee is in charge of taking care of it. This means that if the person who gets the money or property owes money to someone else, that person can't take the money or property to pay off the debt.

A more thorough explanation:

A spendthrift trust is a type of trust that is created to protect the beneficiary's assets from creditors. The trust is designed so that the beneficiary cannot sell or give away their interest in the trust property. Instead, a trustee is appointed to manage the property on behalf of the beneficiary.

For example, let's say that John creates a spendthrift trust for his daughter, Jane. The trust is funded with $1 million in assets. John appoints a trustee to manage the assets and distribute them to Jane as needed. However, Jane cannot sell or give away her interest in the trust property. This means that if Jane has creditors, they cannot reach the assets in the trust to satisfy their debts.

Another example of a spendthrift trust is a trust created for a person with a gambling addiction. The trust can be designed to provide the beneficiary with a regular income, but the trustee would have control over the assets to prevent the beneficiary from using the funds to gamble.

In summary, a spendthrift trust is a useful tool for protecting assets from creditors and ensuring that the beneficiary is not able to sell or give away their interest in the trust property.

Spendthrift Clause | Spite fence

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triplethread
10:28
i lub tik tok and reddit and instantgram
Dkk
10:29
Nah, lol I hate it @texas. I remember when it was music.ly too and you used to have music.ly cringe compilations.
babycat
10:29
I do not have tiktok either because it makes my brain unhappy
10:29
how come i didnt get fordham AGAIN
Yeah, shit is awful. I have friends who spend hours a day on it
m10
10:30
Sorry to hear @Eggan
BulbasaurNoLikeCardio
10:30
I think tik tok is evil and coming from a national defense background, working in PSYOP and in the intelligence community I can promise it is.
glovediedthisishismom
10:30
5318008 now look at it upside down ;)
snow
10:31
tik tok and youtube reals has fried my brain
babycat
10:31
@glovediedthisishismom: boobies!!!
so off topic but dude eggan the weather here in nyc is insane
babycat
10:31
@BulbasaurNoLikeCardio: I wonder if you know my local psyops guy
m10
10:32
@BulbasaurNoLikeCardio: Yeah but like half the general officers are compromised so we might as well just give this country to China already. The head of the JAG corps used to tell us how much he loved Tiktok and he was a 1 star. These people should be court martialed. I hope Trump follows through on that promise the most.
it was 80 degrees three days ago and now it's like pouring rain sleet and wind
babycat
10:32
@jackfrost11770: we all living the same weather. I’m abt to go to the gym
babycat
10:32
I’m listening to car seat headrest
it's the worst when the weather is this shit and there isn't even any snow like at least let it be aesthetic (although snow in nyc is the opposite of that)
snow
10:33
india ass band
10:33
checking in on Wake Forest. Y'all heard anything?
LSDFan
10:34
@m10 are you FLEP
m10
10:34
@LSDFan: nah lol, I am just using my GI Bill. I do not feel like going back.
LSDFan
10:34
good call
BulbasaurNoLikeCardio
10:34
@m10: 110% agree, china has a truly amazing HUMINT network and espionage skills that much of our military is infiltrated or committing willful negligence of duty in prevent and protection. @babycat: PSYOP is pretty small on the AD side but I left the community to go play with Apaches and drones in 2018/19
10:35
Daily check in , stay chillin
10:35
anyone touring hls today?
10:35
Same @m10
10:36
also my softs are bordering t3-t2. would it be worth for me to R+R if im trying for t4
soap
10:36
Maybe see where you get in, then R&R if you feel it’s necessary?
m10
10:36
Psyop guys will try and convince you they are like secret masterminds. I had this one guy whose wife would call me every week and she would tell me about how her husband just like disappeared and could not be found cus he was a specialy trained psyop officer. I found his phone number and called him the same day online. That woman was gaslit so hard.
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