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Topic: Spendthrift trust

	Arizona Spendthrift Trust Provisions (Site not responding. Last check: 2007-10-15)
		If the settlor is a beneficiary of a trust created by the settlor and the settlor's interest in the trust is subject to a provision restraining the voluntary or involuntary transfer of the settlor's interest, the restraint is invalid against transferees or creditors of the settlor.
		Powers, duties or responsibilities granted to or reserved by the settlor pursuant to the trust and any actions or omissions taken pursuant to the trust are deemed to be the powers, responsibilities, duties, actions or omissions of the settlor and not those of its directors, officers, shareholders, partners, employees, beneficiaries or agents.
		A trust which would be treated as a grantor trust pursuant to sections 671 through 679 of the internal revenue code of 1986 or corresponding provisions of subsequent federal income tax laws.
	homepages.law.asu.edu /~dkarjala/Property/ArizonaSpendthriftTrustProvisions.htm (751 words)

	NEVADA REVISED STATUTES: CHAPTER 166
		For the purposes of this chapter, a spendthrift trust is defined to be a trust in which by the terms thereof a valid restraint on the voluntary and involuntary transfer of the interest of the beneficiary is imposed.
		In such cases, the corpus or capital of the trust estate, or the interest of the beneficiary therein, may be anticipated, assigned or aliened by the beneficiary voluntarily, but not involuntarily or by operation of law or by any process or involuntarily at all.
		The trust estate, or corpus or capital thereof, shall never be assigned, aliened, diminished or impaired by any alienation, transfer or seizure so as to cut off or diminish the payments, or the rents, profits, earnings or income of the trust estate that would otherwise be currently available for the benefit of the beneficiary.
	www.leg.state.nv.us /NRS/NRS-166.html (1393 words)

	SPENDTHRIFT TRUST (Site not responding. Last check: 2007-10-15)
		The Shurleys claimed the trust was a spendthrift trust and a magical shield thus encircled it from all the nasty creditors.
		However, if the trust itself allows such to occur or the control is within the scheme/plan of the trust, there is no "defacto control." Loans and grants made to Shurley during the trust period were in fact authorized by the trust document and were contemplated by the Trustors.
		Under the trust agreement, while the parents were alive, two-thirds of the income generated by the trust was distributed to the parents and one-sixth of the income was distributed to each of the daughters.
	home.earthlink.net /~laanderson/shurley.htm (1601 words)

	LeanLegal Dictionary - S
		Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts.
		statutory trust A trust created by the effect of a statute, usually temporary in nature, which serve to bridge ownership of property to benefit a certain class of individuals which the statute is designed to protect.
		Some examples are the temporary trusts that the law of some states impose on the executor of an estate, the holding and administration of tax or other pay deductions (including vacation pay) by employers, the trust accounts of lawyers.
	www.leanlegal.us /dictionary/s.asp (3609 words)

	Glossary of Legal Terminology
		A bypass trust allows each member of a couple to use the $600,000 estate tax exemption.
		For instance, a corporation's board member has a fiduciary duty to the shareholders, a trustee has a fiduciary duty to the trust's beneficiaries, and an attorney has a fiduciary duty to a client.
		Some living trusts are set up so that they can be changed during the maker's lifetime.
	www.cc.co.winnebago.il.us /courtinfo_terms.asp?P=C (9575 words)

	Liability Exposure - Are you At Risk?
		Even offshore trusts may not work because a U.S. court could threaten to put you in jail if you refuse to return the property to the U.S. Never mind that you may not have the power to comply.
		Bill Comer recently sent me a copy of a 1996 case in which the Sixth Circuit Court of Appeals overruled a district court in a case involving the state law relating to a spendthrift trust and the federal law relating to a tax lien.
		Frank Reitelbach’s father established a trust for Frank with a spendthrift trust provision that prohibits any trust income from being used to satisfy any debts of the beneficiary and from being assigned by the beneficiary to any other party.
	www.rpifs.com /exposure.htm (4436 words)

	MDP Interactive > Practice-Ready Tools Table of Contents (Site not responding. Last check: 2007-10-15)
		Chart comparing benefits of a trust designed to minimize GST with those of a trust not so designed
		Language to include in living trust or will to qualify retirement plan payments for the marital deduction
		Language prohibiting trust distributions that would discharge the trustee’s or grantor’s obligation of support to the beneficiaries
	mdpacademy.com /interact/prt_toc.htm (1339 words)

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