protective trust

protective trust
Similar to a spendthrift trust, the indenture of trust protecting against alienation and liability for debts of the beneficiary by providing conditions for the termination or forfeiture of the trust estate, by giving the trustee discretion to be exercised in making disbursements to beneficiaries, or by similar devices. 54 Am J1st Trusts §§ 147, 148.

Ballentine's law dictionary. . 1998.

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  • protective trust — A species of spendthrift trust (q.v.) containing a provision for forfeiture to protect against creditors and voluntary alienation …   Black's law dictionary

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  • Trust Indenture Act — Federal Act (1939) designed to protect investors in certain types of bonds by requiring that the trust indenture be approved by the SEC and include certain protective clauses and exclude certain exculpatory clauses, and that trustees be… …   Black's law dictionary

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