Common use of Inalienability Clause in Contracts

Inalienability. No beneficiary shall have any right to anticipate, sell, assign, mortgage, pledge or otherwise dispose of or encumber all or any part of the trust estate, nor shall any part of the trust estate including income, be liable for the debts or obligations, including alimony, of any beneficiary or be subject to attachment, garnishment, execution, creditor’s bill or any other legal or equitable process. All payments of income and principal under any Trusts or funds created hereunder shall be inalienable by the beneficiaries and free from the control or interference of any creditor of a beneficiary or of any spouse of a married beneficiary and shall not be subject to attachment, judgment, levy, sequestration, garnishment, bankruptcy or other insolvency proceedings or legal process or susceptible of anticipation or alienation. Should any beneficiary attempt to transfer or otherwise affect such beneficiary’s interest in the Trust or fund or the income therefrom by voluntary act or operation of law or in the event of any attempted levy, attachment, garnishment or sequestration of a beneficiary’s interest in the income or principal, all payments to or for such beneficiary shall, in the Trustee’s sole discretion, be made either personally to the beneficiary or used by the Trustee for the benefit of the beneficiary. No monetary value passing to any beneficiary shall be vested in such beneficiary until received by such beneficiary and therefore, no creditor of a beneficiary shall be allowed to place a lien against the effective assets of this Trust and is therefore, not subject to creditors of any beneficiary creditor until received by such beneficiary. This provision shall not bar any remedy sought by either the Florida Agency for Health Care Administration (AHCA), Department of Health and Rehabilitative Services for the purpose of obtaining trust distributions in accordance with this trust declaration and applicable federal or state laws and administrative regulations.

Inalienability. No beneficiary shall have any right to anticipate, sell, assign, mortgage, pledge or otherwise dispose of or encumber all or any part of the trust estate, nor shall any part of the trust estate including income, be liable for the debts or obligations, including alimony, of any beneficiary or be subject to attachment, garnishment, execution, creditor’s bill xxxx or any other legal or equitable process. All payments of income and principal under any Trusts or funds created hereunder shall be inalienable by the beneficiaries and free from the control or interference of any creditor of a beneficiary or of any spouse of a married beneficiary and shall not be subject to attachment, judgment, levy, sequestration, garnishment, bankruptcy or other insolvency proceedings or legal process or susceptible of anticipation or alienation. Should any beneficiary attempt to transfer or otherwise affect such beneficiary’s interest in the Trust or fund or the income therefrom by voluntary act or operation of law or in the event of any attempted levy, attachment, garnishment or sequestration of a beneficiary’s interest in the income or principal, all payments to or for such beneficiary shall, in the Trustee’s sole discretion, be made either personally to the beneficiary or used by the Trustee for the benefit of the beneficiary. No monetary value passing to any beneficiary shall be vested in such beneficiary until received by such beneficiary and therefore, no creditor of a beneficiary shall be allowed to place a lien against the effective assets of this Trust and is therefore, not subject to creditors of any beneficiary creditor until received by such beneficiary. This provision shall not bar any remedy sought by either the Florida Agency for Health Care Administration (AHCA), Department of Health and Rehabilitative Services for the purpose of obtaining trust distributions in accordance with this trust declaration and applicable federal or state laws and administrative regulations.