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Spendthrift Trust

A spendthrift trust is an express trust, and all the requirements for creating a valid trust in New York apply. The distinguishing characteristic of a spendthrift trust is that it prohibits the beneficiary from assigning present or future income from the trust, or from selling his rights to the principal to creditors. New York law generally presumes that all trusts are spendthrift trusts, so special language is not necessary to create one, though creators of trust often state that their intent is to create a spendthrift trust.

What are the benefits of a spendthrift trust?

Can I establish a spendthrift trust and make myself beneficiary to avoid creditors?

Are there exceptions to the rule that creditors cannot gain access to the trust assets?

I would like to establish a specific spendthrift trust:

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