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Full-Text Articles in Estates and Trusts
Trusts-Validity Of Spendthrift Trust, Charles K. Dayton
Trusts-Validity Of Spendthrift Trust, Charles K. Dayton
Michigan Law Review
Defendant, a judgment debtor, was one of three beneficiaries of a trust agreement which granted him an income of 1,500 dollars annually until his daughter reached the age of twenty-five, at which time he was to receive one-third of the corpus. The trust agreement contained a clause prohibiting voluntary or involuntary alienation of the beneficiary's interest in the income or principal of the 91,000 dollar trust estate. Plaintiff-creditor's attempt to apply the defendant's right to receive annual income toward the satisfaction of a 41,000 dollar judgment was denied by the trial court and the Ohio court of appeals on the …