That’s when a spendthrift trust comes in handy. Also called a spendthrift provision, this type of trust has restrictions that protect heirs from both themselves and potential creditors.

The standalone trusts or provisions within other entities can help clients protect assets. Here's why they may need a nudge ...

A “spendthrift trust” is: “A trust created to provide ... trust since the Statute of 13 Elizabeth in 1571. The present form of that law is the Uniform Voidable Transaction Act (UVTA ...