Maine § 18-B §502 Spendthrift provision

Maine Statutes

§ 18-B §502 — Spendthrift provision

Maine § 18-B §502

Title 18-BTRUSTS

Part 1MAINE UNIFORM TRUST CODE

Ch. 5CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS

This text of Maine § 18-B §502 (Spendthrift provision) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 18-B, § 18-B §502 (2026).

Text

1.Restrains voluntary and involuntary transfers. A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.

2.Terminology. A term of a trust providing that the interest of a beneficiary 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.No transfer by beneficiary; creditors and assignees. A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this chapter, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.

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1.
Restrains voluntary and involuntary transfers.
A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.
2.
Terminology.
A term of a trust providing that the interest of a beneficiary 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.
No transfer by beneficiary; creditors and assignees.
A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this chapter, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.