§1Spendthrift Trust History
Common spendthrift trust law has been around since almost the beginning of the use of trusts centuries ago. The term "spendthrift," as associated with a trust, refers to a clause that restrains both voluntary and involuntary transfer of a beneficiary's interest.
§2The Nevada Self-Settled Statute
Nevada permits a self-settled spendthrift trust — a structure in which the settlor may also be a discretionary beneficiary while still securing meaningful creditor protection after a statutory seasoning period. The combination of dynasty duration, no state income tax, and self-settled protection makes Nevada one of a small number of preferred situs jurisdictions.
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