Solved

Mary Is the Beneficiary of a Spendthrift Trust That Her

Question 97

Essay

Mary is the beneficiary of a spendthrift trust that her grandmother set up when Mary was 12 years old.Mary is now 25 years old.Mary has overused her credit cards and is in default on several.Under terms of the trust,Mary receives $500 per month of income,but any remaining income remains in the trust.Mary wants to force the trustee to pay her all the income plus some of the trust corpus each month.Also,one creditor wants to attach the trust corpus and income.Discuss.

Correct Answer:

verifed

Verified

Mary cannot control the distri...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents