US Lawyer Database

Section 14.5-502 – Discretionary Distribution Provision

    (a)    (1)    A beneficiary of a discretionary distribution provision has no property right in a trust interest that is subject to a discretionary distribution provision.         (2)    A beneficial interest that is subject to a discretionary distribution provision may not be judicially foreclosed, attached by a creditor, or transferred by the beneficiary.     (b)    (1)    The creditor of the beneficiary of a […]

Section 14.5-503 – Effect of Support Provision

    (a)    Except as provided in §§ 14.5–505 and 14.5–506(b) of this subtitle:         (1)    A beneficial interest that is subject to a support provision may not be judicially foreclosed, attached by a creditor, or transferred by the beneficiary; and         (2)    Trust property that is subject to a support provision is not subject to the enforcement of a judgment until […]

Section 14.5-504 – Spendthrift Provisions

    (a)    A spendthrift provision is valid and enforceable.     (b)    A provision of a trust providing that the interest of a beneficiary is held subject to a “spendthrift trust”, or words of similar import, restrains both voluntary and involuntary transfer of the beneficiary’s interest.     (c)    A beneficial interest that is subject to a spendthrift provision may not be judicially […]

Section 14.5-505 – Spendthrift Provisions — Allowable Claims

    (a)    In this section, “child” includes any person for whom an order or a judgment for child support has been entered in this State or another state.     (b)    Subject to the provisions of § 14.5–502 of this subtitle, the interest of a beneficiary that is subject to either a spendthrift provision or a support provision or both […]

Section 14.5-507 – Power of Appointment

    (a)    (1)    A power of appointment held by a person other than the settlor of the trust is not a property interest.         (2)    A power of appointment described in paragraph (1) of this subsection and property subject to that power of appointment may not be judicially foreclosed or attached by a creditor of the holder of the power. […]

Section 14.5-508 – Trust Property Subject to Claims of Creditors or Assigns

    (a)    The following rules apply, whether or not the terms of a trust contain a spendthrift provision:         (1)    During the lifetime of the settlor, the property of a revocable trust is subject to claims of the creditors of the settlor;         (2)    With respect to an irrevocable trust, a creditor or an assignee of the settlor may reach only […]

Section 14.5-511 – Immunity of Marital Trust Property From Claims of Separate Creditors of Husband or Wife

    (a)    In this section, “proceeds” means:         (1)    Property acquired by the trustee on the sale, lease, license, exchange, or other disposition of property originally conveyed by a husband and wife to a trustee or trustees;         (2)    Property collected by the trustee on, or distributed on account of, property originally conveyed by a husband and wife to a trustee […]