What is a Spendthrift Trust? November 2, 2022 скачать в хорошем качестве

What is a Spendthrift Trust? November 2, 2022

Check out this video of what is a Spendthrift Trust and how spendthrift provisions can protect loved ones from poor financial decisions and shield trust property from a beneficiary's creditors. If you like this video, please SUBSCRIBE to our channel. Feel free to LIKE it or write a comment if you have any questions for us. For more information, visit our website at www.kansascitybankruptcy.com or follow us on Facebook at:   / wmlaw123   Proper estate planning involves the protection and preservation of your legacy. Sometimes these goals require limiting an heir’s ability to rapidly deplete their inheritance. Typically, estate planning professionals use “spendthrift provisions” to protect loved ones from poor financial decisions, and importantly, to shield trust property from a beneficiary’s creditors. A spendthrift provision is an instrument that restrains the voluntary or involuntary transfer of a beneficiary’s interest in a trust. See RSMo. § 456.5-502. By limiting a beneficiary’s ability to sell, transfer, or otherwise encumber their interest in a trust, you can also limit a future creditor’s ability to reach that trust property. Furthermore, a spendthrift trust operates to distribute property to your heirs incrementally instead of all at once. What Happens when a Trust Does Not Contain a Spendthrift Provision?....