Does the name of the trust have to be that of the grantor of the trust?

04/06/2007 - Trusts - State: MI #2698

Full Question:

Does the name of the trust have to be that of the grantor of the trust or can the name of the trust be that of the beneficiary of the trust? Also, if there is a spendthrift provision in the trust, does the name of the trust have to include the word spendthrift?

Answer:

The name of a trust can be that of the beneficiary of the trust.

A spendthrift trust can only be created by an express restraint on alienation, and must include a spendthrift clause. We know of no requirement that the word “spendthrift” be used.



Please see the information at the following links: Please see the forms at the following links:

04/06/2007 - Category: Trusts - State: MI #2698

See more Questions in the Trusts Category