Spendthrift Trust Clause

Definition of "Spendthrift trust clause"

Susan Hammer real estate agent
Susan Hammer, Real Estate Agent Weichert Realtors

Provision in a life insurance policy that protects its proceeds from the beneficiary's creditors. On payment, the beneficiary loses the protection of the spendthrift trust clause and the beneficiary's creditors can then bring suit to attach the proceeds.

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