Spendthrift Trust Clause


Definition of "Spendthrift trust clause"

Renee  Moussally <br>http://reneesellsri.com/ real estate agent
Renee Moussally
http://reneesellsri.com/, Real Estate Agent
BHHS Commonwealth Real Estate

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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