Spendthrift Trusts, Limited Protection for Deadbeat Beneficiaries

Spendthrift Trusts, Limited Protection for Deadbeat Beneficiaries

Speaker: Margaret M. Hand

May 17, 2017, 12 – 1 P.M.
Santa Clara Probate Courthouse, Dept. 12, 191 North First Street,
San Jose,  CA

AND

May 18, 2017, 12 – 1 P.M.
El Dorado Planned Giving Committee  –  Serrano Country Club,
5005 Serrano Pkwy, El Dorado,  CA

California law has long recognized a settlor’s right to restrict a beneficiary’s use of trust assets. Restraints on alienation, spendthrift clauses, shutdown clauses and wholly discretionary trusts are a few of the tools settlors may use when creating a trust for the benefit of someone likely to have creditor problems. Using colorful stories about deadbeat beneficiaries, Margaret M. Hand will discuss the use of these tools, describe those circumstances in which they work well and describe those circumstances in which they are of limited or no use.