WebNRS 166.020 “Spendthrift trust” defined. trust” means a trust in which by the terms thereof a valid restraint on the voluntary and involuntary transfer of the interest of the beneficiary is imposed. It is an active trust not governed or executed by any use or rule of law of uses. [1:86:1939; 1931 NCL § 6880]—(NRS A 2024, 1874) WebA spendthrift clause refers to a clause creating a spendthrift trust which limits the ability of assets to be reached by the beneficiary or their creditors. A spendthrift trust usually …

What is a spendthrift provision in a Will or Trust?

WebFeb 1, 2012 · The trust has a spendthrift provision, meaning that the assets are controlled and kept from the beneficiary except in regular distributions. Further, the trust provided that the brother, as trustee, has discretionary control over the distributions, and can release them or hold them in the trust as deemed appropriate in his capacity as trustee. WebSpendthrift provision Definition. A provision in a trust that indicates the settlor’s intent to protect the assets of the trust from creditors of the beneficiary by placing a restraint on … teasdale rv parts

14-10504 - Discretionary trusts; effect of standard; definition

WebAug 10, 2024 · Spendthrift trust provisions that effectively protect the beneficiary’s trust interest from civil creditors do not shield a trust from Medicaid analysis. There are some trusts that a Medicaid applicant can create to protect his income from being taken to pay for his care in a skilled nursing home while he is receiving Medicaid benefits. WebA "spendthrift provision" is a clause in a Trust or a Will that protects a beneficiary against a creditor attaching prior debts against the beneficiary's inheritance as well as preventing … WebNoun 1. spendthrift trust - a trust created to maintain a beneficiary but to be secure against the beneficiary's improvidence trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is … brm slim 1600