Louisiana Revised Statutes 9:2007 – Use of words “spendthrift trust”
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Terms Used In Louisiana Revised Statutes 9:2007
- 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
A declaration in a trust instrument that the interest of a beneficiary shall be held subject to a “spendthrift trust” is sufficient to restrain alienation by a beneficiary of the interest to the maximum extent permitted by this Sub-part.