Vermont § 502 - Spendthrift provision
Full text of Vermont Vermont Statutes Online § 502 — Spendthrift provision, with citation guidance and answers to common questions.
§ 502. Spendthrift provision
- (a) A spendthrift provision is valid only if it restrains both voluntary and involuntary
transfer of a beneficiary’s interest. (b) 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. (c) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift
provision and, except as otherwise provided in this chapter, a creditor or assignee
of the beneficiary may not reach the interest or a distribution by the trustee before
its receipt by the beneficiary. (Added 2009, No. 20, § 1.)
Frequently Asked Questions About Vermont § 502
What does Vermont Statutes Online § 502 cover?
Section 502 ("Spendthrift provision") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 502?
A common citation format is "Vermont Statutes Online § 502" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 502 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.