A spendthrift trust definition is kind of ambiguous. There aren’t really spendthrift trusts, like there is an insurance trust, children’s trust, living revocable trust, or charitable remainder trust. Let’s start with the definition of a spendthrift.
Spendthrift Trust Definition
A spendthrift is someone who can’t manage money. A spendthrift just lets money flow through their fingers. In order to protect a child or someone from their own money mismanagement skills, (some of them are very skilled at money mismanagement) a spendthrift provision ...Continue Reading →