A creditor may seize only:

(1)  An interest in income or principal that is subject to voluntary alienation by a beneficiary.

(2)  A beneficiary’s interest in income and principal, to the extent that the beneficiary has donated property to the trust, directly or indirectly.  A beneficiary will not be deemed to have donated property to a trust merely because he fails to exercise a right of withdrawal from the trust.

Acts 1985, No. 581, §1; Acts 1987, No. 246, §1, eff. July 3, 1987; Acts 1997, No. 253, §1; Acts 2010, No. 390, §1.