spendthrift trust

American  

noun

Law.

1. a trust that provides a fund for a beneficiary, as a minor, with the title vested so that the fund or its income cannot be claimed by others, as creditors of the beneficiary.

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Example Sentences

When it became clear mom was nearing the end of her life, I suggested she set up a spendthrift trust to protect his inheritance.

From MarketWatch

A spendthrift trust “prevents your child from selling, borrowing against, or misusing their inheritance,” Cote says.

From MarketWatch

Answer: Yes, you can create a spendthrift trust and name it as the beneficiary of your IRAs.

From Los Angeles Times

A spendthrift trust is not a do-it-yourself project.

From Los Angeles Times

Bobbi Kristina was fabulously wealthy for a teenager, but her money was in a spendthrift trust, designed to keep creditors and predators from taking advantage of people who can't manage their money.

From US News