Missouri Laws 456.5-503 – Exceptions to spendthrift provision
1. In this section,
(1) “Child” includes any person for whom an order or judgment for child support has been entered in this or another state, and
Terms Used In Missouri Laws 456.5-503
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- Statute: A law passed by a legislature.
- United States: includes such district and territories. See Missouri Laws 1.020
(2) “Judgment” means a judgment which may be executed in this state.
2. Even if a trust contains a spendthrift provision, a beneficiary‘s child, spouse, or former spouse who has a judgment against the beneficiary for support or maintenance, or a judgment creditor who has provided services for the protection of a beneficiary’s interest in the trust, may obtain from a court an order attaching present or future trust income. If there is more than one permissible distributee, the court may grant relief as is equitable under the circumstances.
3. A spendthrift provision is unenforceable against a claim of this state or the United States to the extent a statute of this state or federal law so provides.