spend-thrift trust

spendthrift trust

noun Law.
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.
Also called sheltering trust.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To spend-thrift trust
WordNet
spendthrift trust

noun
a trust created to maintain a beneficiary but to be secure against the beneficiary's improvidence 
WordNet® 3.0, © 2006 by Princeton University.
Cite This Source
Copyright © 2014 Dictionary.com, LLC. All rights reserved.
  • Please Login or Sign Up to use the Recent Searches feature