What Is a Spendthrift Trust?
A spendthrift trust gives you some control over how your beneficiaries can spend inherited funds.
There are times when you want to take care of your children in your will, but you know they would blow through their inheritance in just a few years. That’s when a spendthrift trust comes in handy. Also called a spendthrift provision, this type of trust has restrictions that protect immature heirs from both themselves and potential creditors.
Rodney Brooks
Hello! I’m Rodney A. Brooks®. I am a veteran journalist, writer and author and my specialty is retirement planning and other personal finance issues. I have written for many national publications, including USA TODAY, The Washington Post, U.S. News & World Report, AARP and National Geographic. I am available to speak on personal finance, financial literacy and the racial wealth gap.
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