spendthrift trust

Question 1

waht is it

Answer 1

non alienable

basically the trust says they can’t volhntarily transfer their righ to future payment and creditors can’t attach

voluntary alienation - genreally can’t do it

involuntary alien - no as general rule
exception - preferred creditors
1. gov creditors,
2. necessities of life to benef
3. child seeking kid support
4. spousal support
5 ex spouse sekeing alimony
6. tort judgmnet creditor

any creditor can attach to suprlus - just what is over and above what someone needs to manage their life position

can you create this in yourself? argue both sides for volunatry and involuntaryalienation

Question 2

support trust

Answer 2

trustee is required to use only so muc ohf the income or principal as is necessary fo rhte beneficiarys, health, support, educaiton maintanince

1. voluntary alien - can’t do this
2. involuntary alien - generally no only preferred creditro
3. can you create it in yourself, genreally no but argue both ways

Question 3

discretionary trust

Answer 3

the trustee is given sole and absolute discretion in dettmination how mucht o pay to beneficiary if anything and if bene ever receives

1. voluntayr alien - argue both ways. nothing to transfer but if they do transfer then the person can take whateve they get
2. involuntary alien -argue both sides
3. make in settlor? smae as spendthirft