Spendthrift Trust Clause


Definition of "Spendthrift trust clause"

Susan Hammer <br>Listing Agent Specialist  real estate agent
Susan Hammer
Listing Agent Specialist , 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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