What is a spendthrift trust — and who actually needs one? A spendthrift trust is designed to protect an inheritance from creditors, lawsuits, or even a future divorce. It’s often used when a beneficiary struggles with money, has creditor issues, or is in a relationship that may not last. This type of trust requires very specific language and the right trustee to work properly — it’s not something you want done incorrectly. #EstatePlanning #SpendthriftTrust #TrustPlanning #VermillionLaw #ProtectY
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a spin thrift trust is a trust with provisions on it that make sure that money is spent in a responsible way. A third-party watches over how money is spent for the beneficiary maybe like a child that doesn’t make good decisions with money that money can be used for things like essentials, including living expenses, health and education. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom | Pevney Estate Planning
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