{"data":{"id":"us-me/18-b-m.r.s.-502","jurisdiction":"us-me","citation":"18-B M.R.S. §502","heading":"Spendthrift provision","body":"1.  Restrains voluntary and involuntary transfers.  A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.\n2.  Terminology.  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.\n3.  No transfer by beneficiary; creditors and assignees.  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.","path":["TITLE 18-B: TRUSTS","PART 1: MAINE UNIFORM TRUST CODE","CHAPTER 5: CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS"],"source_url":"https://legislature.maine.gov/statutes/18-B/title18-Bsec502.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:29Z","sha256":"8ede271a432ca9b81d0dbd93deecd1ad21548e6560702ebe8368fb45fa5b9564","source_id":"us-me","stale":false,"prev":"us-me/18-b-m.r.s.-501","next":"us-me/18-b-m.r.s.-503"},"notice":"GroundRules: Original legal text. Not legal advice."}