spendthrift trust

American

noun

Law.

a trust that provides a fund for a beneficiary, as a minor, with the title vested so that the fund or its income cannot be claimed by others, as creditors of the beneficiary.

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

A spendthrift trust “prevents your child from selling, borrowing against, or misusing their inheritance,” Cote says.

From MarketWatch

Answer: Yes, you can create a spendthrift trust and name it as the beneficiary of your IRAs.

From Los Angeles Times

A spendthrift trust is not a do-it-yourself project.

From Los Angeles Times

Bobbi Kristina was fabulously wealthy for a teenager, but her money was in a spendthrift trust, designed to keep creditors and predators from taking advantage of people who can't manage their money.

From US News

“With a spendthrift trust, creditors and lawsuits cannot access the funds, and your child cannot demand early payouts. Instead, the trustee manages distributions based on your specified terms.”

From MarketWatch

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023