[WSBAPT] Limiting beneficiary's withdrawal power

[Thomas White]

A model spendthrift clause provides, inter alia, that "The rights of trust beneficiaries to withdraw trust property are personal and may not be exercised by a legal representative, attorney-in-fact, or others." The Uniform Power of Attorney Act has a corresponding limitation that by default prevents the agent from having the power "to cause a trustee to make distributions of property held in trust for me under the same conditions that I could[.]"

Do you ordinarily include these limitations in both your trusts and your POAs?

Is there a reason to include the limitation in the POA?

What about in the trust spendthrift clause?  Are creditors otherwise able to reach the trust?

Kind Regards,

Tom


--
Thomas H. White
(206) 552-8650
Attorney/Owner
King County Business Law
https://linkedin.com/in/LawGuy
Thomas.H.White at KingCountyBusinessLaw.com<mailto:Thomas.H.White at KingCountyBusinessLaw.com>

NOTICE: This message and related data is intended only for confidential use by the designated recipients. The information may be legally privileged and should not be disclosed without approval of the sender. If you have received this in error, please destroy this email and notify the sender immediately. Thank you for your assistance. Unless expressly stated herein, this communication is not to be used for avoiding federal tax penalties. IRS Circular 230.

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170810/4e43ac83/attachment.html>