Spendthrift Trust

A trustAn arrangement in which property interests are legally held by one person (the trustee) at the request of another (the settlor) for the benefit of a third party (the beneficiary). which protects beneficiaries’ interests in the assets of the trust by preventing creditors of the beneficiaries or settlorThe individual who creates a trust. from attaching those interests, and which also prevents the beneficiaries and settlor from transferring the beneficiaries’ interests.