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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) A spendthrift provision for a beneficiary other than the settlor is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest, even if the beneficiary is the trustee or cotrustee of the trust.
(2) A term of a trust providing that the interest of a beneficiary other than the settlor is held subject to a “spendthrift trust,” or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.
(3) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this part, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.
Cite this article: FindLaw.com - Utah Code Title 75. Utah Uniform Probate Code § 75-7-502. Spendthrift provisions for beneficiaries other than the settlor - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-75-utah-uniform-probate-code/ut-code-sect-75-7-502/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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