Article

Spendthrift Trusts and Public Policy: Economic and Cognitive Perspectives

Author: Adam J. Hirsch (Florida State University)

Abstract

In Part I, I shall explore restraints against voluntary alienation: that is, restrictions on a beneficiary's right to terminate the arrangement-to take the money and run. In Part II, I shall proceed to restraints against involuntary alienation: that is, restrictions on creditors' rights to reach the trust corpus in order to satisfy their claims. Finally, in Part III, I take up the refinement of spendthrift trust doctrine: assuming the expediency of a general warrant to create spendthrift trusts, should lawmakers nonetheless carve out exceptions to their effectiveness?

Keywords: Spendthrift trusts, Government policy, Law & economics

How to Cite: Hirsch, A. (1995) “Spendthrift Trusts and Public Policy: Economic and Cognitive Perspectives”, Washington University Law Review. 73(1).