Mass. General Laws c.203E § 502

Spendthrift provision

This is an unofficial version of a Massachusetts General Law.

Section 502

(a)

A spendthrift provision shall be 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, shall be 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 article, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.

Procedural advisory commentary (2013)

See generally § 502 for substantive changes to Massachusetts law.