14-10501. Rights of beneficiary’s creditor or assignee; exception A. The court may authorize a creditor or assignee of the beneficiary to reach the beneficiary’s interest by attachment of present or future distributions to or for the benefit of the beneficiary or by other means. The court may limit the award to such relief as is […]
14-10502. Spendthrift provision A. A spendthrift provision is valid only if it restrains either voluntary or involuntary transfer of a beneficiary’s interest. B. A term of a trust providing that the interest of a beneficiary is held subject to a spendthrift trust, or words of similar import, is sufficient to restrain both voluntary and involuntary […]
14-10503. Exceptions to spendthrift provision; definition A. Even if a trust contains a spendthrift provision, a beneficiary’s child who has a judgment or court order against the beneficiary for support or maintenance, or a judgment creditor who has provided services relating to the protection of a beneficiary’s interest in the trust, may obtain from a […]
14-10504. Discretionary trusts; effect of standard; definition A. Except as provided in subsection B of this section, whether or not a trust contains a spendthrift provision, a creditor of a beneficiary may not compel a distribution that is subject to the trustee’s discretion, even if either: 1. The discretion is expressed in the form of […]
14-10505. Creditor’s claim against settlor A. Whether or not the terms of a trust contain a spendthrift provision, the following rules apply: 1. During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor’s creditors. If a trust has more than one settlor or contributor, the amount […]
14-10506. Overdue distribution; definition A. Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal if the trustee has not made the distribution to the beneficiary within a reasonable period after the mandated distribution date unless the terms of the […]
14-10507. Personal obligations of trustee Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.
