Any person creating an express trust for the benefit of any other person or persons may, by the terms of the trust, establish valid restraints on the voluntary and/or involuntary transfer of interests in the express trust by its beneficiaries, whether by way of anticipation or acceleration, assignment, hypothecation, or by virtue of legal process in judgment, execution, attachment, garnishment, bankruptcy, or otherwise.
R.I. Gen. Laws § 18-9.1-1
Spendthrift trusts — Establishment
Applied in 1 court decision — leading case Richardson v. McCullough (In Re McCullough) (2001)
Most recently applied in Richardson v. McCullough (In Re McCullough) (January 2001)
P.L. 1988, ch. 279, § 1.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.