Spendthrift Trusts

WHOM IS IT FOR?: A Spendthrift Trust is used in situations where a person wishes to leave assets to a beneficiary who cannot handle money responsibly.

Nearly every family has at least one individual who has addiction problems, gambling problems, or problems handling money. A Spendthrift Trust is used to provide for these individuals under the tight restrictions of the trust.

A Spendthrift Trust is generally not a separate trust at all but is a provision in a living trust to limit the ability of a specific beneficiary to anticipate (act ahead of actually receiving an inheritance) by borrowing against a future inheritance or assigning it.

Also, a Spendthrift Trust limits the ability of creditors of a beneficiary from attaching assets of a trust before they are paid (i.e., distributed) to the beneficiary.

To view a short video by Long Beach Estate Planning Attorney John T. Anderson on the different types of trusts prepared by The Law Office of John T. Anderson, Click Here.

Contact our office for more information on estate planning and Spendthrift Trusts. We look forward to meeting with you and discussing if a Spendthrift Trust is appropriate in your situation.

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The Law Office of John T. Anderson
1741 E. Wardlow Rd., Long Beach, California 90807