protective trust
- This is a type of trust designed to guard assets against claims by beneficiaries' creditors; it entails that the trustee has the authority to decline payment to a beneficiary or invalidate a beneficiary's interest in the trust if a creditor attempts to access it
- Parents may set up a protective trust to ensure their child's assets are safeguarded against potential debtors.
- An elderly woman created a protective trust to shield her estate from being seized by any of her relatives' creditors.
- To avoid any risk from his unstable financial situation, the man assigned his assets to a protective trust.
Provide Feedback
