spendthrift clause

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spendthrift clause n. a provision in a trust or will that states that if a prospective beneficiary has pledged to turn over a gift he/she hopes to receive to a third party, the trustee or executor shall not honor such a pledge. The purpose is to prevent a "spendthrift" beneficiary from using a potential gift as security for credit on a speculative investment. Example: Junior Jones is talked into an investment in Florida swampland, but has no money in hand to pay for it. So he tells the developer he will soon receive $50,000 from his aunt's trust, and signs an assignment of the expected $50,000 to the developer. When the aunt dies, the trustee must ignore the developer's demand for payment based on the written assignment, but may pay the funds directly to Junior. (See: trust, will)

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clause Spendthrift Trust			8) Nonetheless, inclusion of a spendthrift clause in such a trust should provide some level of protection before the payments are received by the beneficiary. Unraveling the mysteries of the Florida exemptions for life insurance ... by Gopman, Jonathan E.; Turko, Matthew N.; Hujsa, Howard M. / Florida Bar Journal The spendthrift clause is put in there by the person setting up the trust. Financial planning key to successful retirement by Friedman, Mark / Arkansas Business 52) They further justify the enforcement of spendthrift provisions by concluding that creditors can avoid being defrauded, because they are able to determine if a trust beneficiary's interest is limited by a spendthrift clause prior to entering into a transaction. Law for sale: Alaska and Delaware compete for the asset protection ... by Wagenfeld, Amy Lynn / Vanderbilt Journal of Transnational Law			Speeding ticket Speeding ticket out of state speedup speedway speedy speedy completion speedy disposition speedy transaction speedy trial spell spell danger spell out spellbind spellbinding Spelling spend spend lavishly spend more than one has spend one’s time in spend wastefully spendable spending Spending Power spendings spendthrift spendthrift clause Spendthrift Trust spent sperare Sperate spernere spes Spes est vigilantis somnium Spes impunitatis continuum affectum tribuit delinquendi Spes recuperandi sphaera sphere sphere of activity sphere of occupation spheroid sphinx-like sphinxian spice spicy spike spill over spin out Spin-Off spineless Spinster spiral			spending beach spending cut spending money spending money spending money hand over fist spending money hand over fist spending money hand over fist spending money hand over fist Spending Per Minute Spending Per Person Spending Phase Spending Phases Spending plan Spending Power Spending Power Spending Review spending spree spendings spendings spends spends spends spends a penny spends a penny spends money hand over fist spends money hand over fist spends money hand over fist spends money hand over fist spendthrift spendthrift spendthrift clause Spendthrift provision Spendthrift provision spendthrift trust spendthrift trust spendthrifts spendthrifts Spendthrifty spendy Spener, Philipp Jakob Spenerism Spengler Spengler Spengler (disambiguation) Spengler (disambiguation) Spengler, Oswald Spengler, Oswald Speniscidiformes Speniscidiformes Speniscidiformes Spens Spens' syndrome Spens, Sir Patrick Spenser Spenser Spenser, Edmund Spenser, Edmund Spenserian Spenserian Spenserian sonnet Spenserian stanza

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