Laws, Regulations and Annotations


Business Taxes Law Guide—Revision 2024

Sales and Use Tax Annotations

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170.0000 Collection of Tax by Board

Annotation 170.0140

(a) In General

170.0140 Spendthrift Trust. A spendthrift trust is a trust which provides that the interest of the beneficiary can neither be transferred by the beneficiary nor reached by the beneficiary's creditors. Such trusts are created for the purpose of providing a fund for another and, at the same time, securing it against his or her own improvidence or incapacity.

However, a creditor may reach the surplus of rents and profits of a spendthrift trust beyond the sum that is necessary for the education or support of the beneficiary. The question of whether such surplus may be reached may be tried in statutory proceedings supplemental to execution, such as the examination of the debtor. 5/31/85.