Spendthrift Provision. The interest of a Designated Beneficiary and/or Remainderman in the property held in a Trust Account, including income and principal, prior to actual payment or delivery by the Trustee, shall not be transferable by voluntary or involuntary assignment or by operation of law. No Designated Beneficiary shall have the power to assign, encumber, direct, distribute or authorize distributions from any Trust Account.
Appears in 5 contracts
Samples: Trust Agreement, Trust Agreement, Pooled Trust Agreement
Spendthrift Provision. The interest of a Designated Beneficiary and/or Remainderman in the property held in a Trust Account, including income and principal, prior to actual payment or delivery by the Trustee, shall not be transferable by voluntary or involuntary assignment or by operation of law. No Designated Beneficiary shall have the power to assign, encumber, direct, distribute or authorize distributions from any Trust Account.
Appears in 1 contract
Samples: Pooled Trust Agreement
