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2019 Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 38. Montana Uniform Trust Code
Part 5. Creditor's Claims -- Spendthrift and Discretionary Trusts
72-38-502. Spendthrift provision
Universal Citation: MT Code § 72-38-502 (2019)
72-38-502. Spendthrift provision. (1) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.
(2) 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) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision, and except as otherwise provided in this part, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.
History: En. Sec. 68, Ch. 264, L. 2013.
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