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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.

DISCLAIMER: The information contained in this website is intended to inform the reader, generally, of issues in California estate planning, trust, and probate law and is not to be the final resource, and should not be considered legal advice. The information is not intended to be all-inclusive. To obtain detailed information or advice regarding a specific legal problem, you should contact a qualified attorney in your geographic area and state. Although attorneys John T. Anderson, Lisa R. Norman, Erin M. Anderson, and John T. Anderson, Jr. (“Attorneys”) intend that this website be correct, complete, and up-to-date, they do not guarantee it to be. It is not intended to be a source of legal advice, thus the reader must seek out specific advice, from competent counsel. Attorneys do not intend links on this website to be referrals or endorsements of the linked entities. Sending e-mails to John@trustlaw.ws or other e-mail addresses associated with attorneys or staff at The Law Office of John T. Anderson does not create, and receipt does not constitute, an attorney-client relationship. No representation is made that the quality of the legal services provided by Attorneys exceeds that provided by other lawyers. To the extent that this website is deemed an “advertisement,” Attorneys advertise only in California and do not seek to represent a person based solely on that person’s visit to this website. Attorneys are licensed to practice law only in California and are willing to appear in courts only in California. Attorneys maintain one office located in Long Beach, California.

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

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