Tips From The Pros: The Trust Spendthrift Provision —Does it Really Protect?

Most jurisdictions offer some form of asset protection for both self-settled and third-party trusts through the incorporation of spendthrift provisions. In fact, traditional asset protection has typically relied on the spendthrift clause.¹ But, there’s been recent precedent to suggest certain exception creditors may pierce the spendthrift. Consequently, many states have uniquely addressed the potential issues with the spendthrift clause by enacting discretionary support