Spendthrift Provision In Trusts

Summary

A spendthrift provision in a South Carolina trust protects a beneficiarys interest from creditors until assets are distributed. It prevents creditors from claiming a beneficiarys share before distribution and restricts beneficiaries from prematurely selling or giving away their interest.

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What is a spendthrift provision in a South Carolina trust?
A spendthrift provision in a South Carolina trust is designed to protect a beneficiary’s interest from creditors until the trust assets are distributed to the beneficiary. Key points include:
- Prevents creditors from claiming a beneficiary’s share before distribution.
- Restricts beneficiaries from selling or giving away their interest prematurely.
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