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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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You had asked me about a spendthrift provision in our family

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You had asked me about a spendthrift provision in our family living trust. I don't yet have that answer. Assuming there is none is this a problem? Does one need to be added? My mother is still alive and expected to live a long life. I am just a named benefactor, (one of three).

Hi JACustomer,

If there is no spendthrift clause in the trust - and there really should be - your remainder portion of the trust can be taken by the Bankruptcy court whenever your mother passes away and you receive your portion. If there is a spendthrift clause in the trust, the Bankruptcy court cannot take your portion.

I think this is what you wanted to know. If not, please let me know.
Thank you!

Edited by cfortunato on 1/6/2011 at 2:17 PM EST
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