Talk:Spendthrift trust
 | This article is rated Start-class on Wikipedia's content assessment scale. It is of interest to the following WikiProjects: | ||||||||||
| |||||||||||
The beneficiary does not need to be in debt. See Nolo definition. --Emurray 01:47, 21 February 2006 (UTC)
Dear Emurray -- Good point. I changed main article accordingly. Yours, Famspear 02:29, 21 February 2006 (UTC)
Third Party Trusts: I>E> Spendthrift Trust, sprinkle trust, etc
[edit]I am told that many such trusts are created to avoid the grasp of the beneficiaries creditors; however I believe that such protection is not absolute. For example, if you owe a government entity monies such as income tax (Federal Gov't) or child support ( State/County) or Employment taxes, you are not shielded.
Is this correct ??