§ 58a-501 Rights of beneficiary’s creditor or assignee
§ 58a-502 Spendthrift provision
§ 58a-505 Creditor’s claim against settlor
§ 58a-506 Mandatory distribution
§ 58a-507 Personal obligations of trustee
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Terms Used In Kansas Statutes > Chapter 58a > Article 5 - Creditor's Claims; Spendthrift and Discretionary Trusts

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Probate: Proving a will
  • Property: includes personal and real property. See Kansas Statutes 77-201
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Trustee: A person or institution holding and administering property in trust.