Spendthrift. The Recipient shall not have any power to sell, transfer, assign, pledge, mortgage, or alienate all or any part of the Recipient 's beneficial interest in t his Tr ust in any manner what soever . The interest of the Recipient shall not be subject to t he claims of the Recipient's creditors or to attachment, execution, bankruptcy proceedings or any other legal process.
Spendthrift. To the extent permitted by law, no payment of principal or interest to anyone entitled to proceeds under this contract shall be subject in any way to the debts, contracts, or engagements or to any judicial process to levy upon or attach the proceeds for payment. No settlement option payment and no amount held under a settlement option can be commuted, anticipated, encumbered, alienated, or assigned in advance of its payment date unless the Owner's written consent is given before the Annuitant dies. This consent must be received and acknowledged by Our Variable Product Service Center. FLEXIBLE PREMIUM DEFERRED VARIABLE ANNUITY Retirement Life Income at Annuitization. Premiums payable to Annuitization. Contract is non-participating. The Accumulated Value in the Variable Account is based on the investment experience of that Account, and may increase or decrease daily. It is not guaranteed as to dollar amount. The variable features of this contract are described in Section V.
Spendthrift. A spendthrift provision in a trust protects the assets of the trust from a beneficiary or their creditors. A beneficiary cannot assign their interest in the trust to any other person or entity before the interest is distributed and cannot be pledged as collateral or other security interest. The Trust is a spendthrift trust and contains robust spendthrift provisions to protect trust assets. Assuming the Trust is properly executed, and the Trustee and Settlor comply with its terms and follow its requirements, all extraordinary and stock dividends will not be taxed while held in the trust. There will be no capital gains incurred by the sale or exchange of capital assets so long as the gains are allocated to the corpus of the trust and not distributed to the beneficiaries pursuant to the terms of IRC Section 643(b). The Trust gives the Trustee a fiduciary duty to comply with IRC Section 643(b) and allocate all extraordinary dividends to corpus. When used properly and in the right circumstances, the Trust is a valuable estate and tax planning tool and it receives my endorsement for its intended purposes. Sincerely, Xxxxxxxxx XxXxxxxxx, Esq. Xxxxxxx & Xxxxxxx Attorneys at Law
Spendthrift. Notwithstanding anything to the contrary contained in this Agreement, your right to any amounts payable to you under subparagraphs 3A through 3C above shall not be assignable except that payments to which you are entitled after death may be made to the legal representative of your estate or to your designated beneficiaries.
Spendthrift. Notwithstanding anything to the contrary contained in this Agreement, your right to any amounts payable to you under subparagraphs 3A through 3C above shall not be
Spendthrift. To the extent permitted by law, no benefits to any Trust Beneficiary under this Trust Agreement may be anticipated, assigned (either at law or in equity), alienated, sold, transferred or pledged, and shall not be subject to attachment, garnishment, levy, execution, encumbrance of any kind, or other legal or equitable process and no benefit (nor this Trust Fund) shall be subject in any manner to the debts or liabilities of any Trust Beneficiary. No benefit actually paid to a Trust Beneficiary by the Trustee upon the Plan Administrator's direction (or in any case after a Change of Control has occurred) shall be subject to any claim for repayment by any Participating Employer or the Trustee, unless it is established that the Trust Beneficiary was not entitled to such payment under the Deferred Compensation Plan.
Spendthrift. 7.1. Notwithstanding anything herein to the contrary:
Spendthrift. Except as provided below, the interest of the Grantor in either the income or the Trust Property of the Trust shall not be alienated in any manner, assigned, encumbered, or transferred, in whole or in part, by the Grantor without the express written consent of the Trustee, which consent may be given or withheld in Trustee’s sole and absolute discretion. Grantor’s interest in the Trust shall be exempt from execution, attachment, distress for rent, and other legal or equitable process which may be instituted by or on behalf of any creditor or assignee of Grantor. Notwithstanding the foregoing, upon the completion of the dissolution and liquidation of the Grantor, Grantor’s contingent interest to receive the Trust Property after resolution of the California Claim may be assigned to the Permitted Assignees provided that the Grantor notifies the Trustee (i) that it has fully dissolved and liquidated and (ii) of the names, addresses, federal identification numbers, and percentage interest of the Permitted Assignees.
Spendthrift. As and to the extent required or permitted by ERISA and the Code, benefits and interests in the Plan and the Fund shall not be subject in any manner to alienation, sale, transfer, assignment, pledge, attachment, or encumbrance of any kind, or otherwise subject to the claims of creditors (subject to the provisions of the Plan regarding qualified domestic relations orders and benefit offsets for certain violations and breaches).
Spendthrift. Except as otherwise provided by law, no interest of any ----------- Income Beneficiary hereunder shall be subject to anticipation, to claims of creditors, to voluntary transfer without the written consent of the Trustee, or to involuntary transfer in any event.
