To the extent a beneficiary's interest is not subject to a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary's interest in a trust by execution or other process against the present or future distributions to or for the benefit of the beneficiary. The court may limit […]
(a) A spendthrift provision contained in a trust instrument is valid if it contains language substantially to the effect that it restrains both voluntary and involuntary transfers of a beneficiary's interest. (b) A term of a trust instrument providing that the interest of a beneficiary is held subject to a "spendthrift trust," or words of […]
(a) In this section, "child" includes any person for whom an order or judgment for child support has been entered in this or another state. (b) A spendthrift provision is unenforceable against: (1) A beneficiary's child, who has a judgment or court order against the beneficiary for child support;
(a) A grantor may transfer assets to a qualified self-settled spendthrift trust and retain in that trust a qualified interest, and, except as otherwise provided in this article, the provisions of section five hundred five of this article do not apply to such qualified interest. (b)The provisions of section five hundred five of this article […]
As used in this article, unless the context requires a different meaning: (a) “Qualified trustee” means any person who is a natural person residing within the state or a legal entity authorized to engage in trust business within the state and who maintains or arranges for custody within the state of some or all of […]
(a) A vacancy in the position of qualified trustee that occurs for any reason, whether or not there is then serving another trustee, shall be filled in the following order of priority: (1) By a person eligible to be a qualified trustee and who is designated pursuant to the terms of the trust instrument to […]
(a) In this section, "child" includes any person for whom an order or judgment for child support has been entered in this or another state. (b) Except as otherwise provided in subsection (c) of this section, whether or not a trust instrument contains a spendthrift provision, a creditor of a beneficiary may not compel a […]
(a) Whether or not the terms of a trust instrument contain a spendthrift provision, the following rules apply: (1) During the lifetime of the grantor, the property of a revocable trust is subject to claims of the grantor’s creditors.
(a) In this section, "mandatory distribution" means a distribution of income or principal which the trustee is required to make to a beneficiary under the terms of the trust instrument, including a distribution upon termination of the trust. The term does not include a distribution subject to the exercise of the trustee's discretion even if: […]
Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.
