Chapter 166
Spendthrift Trusts

Short title.

Applicability of chapter

Definitions.

“Settlor” defined.

“Spendthrift trust” defined.

Terms: “Writing” or “written.”

Competency of settlor

Powers of settlor.

No specific language necessary for creation of trust.

Beneficiaries to be named.

Provision for support.

Income.

Discretion of trustee.

Restraints on alienation

Legal estate of beneficiary in corpus.

Perpetuities.

Accumulation of income.

Settlor may make different provisions.

Limitation of actions with respect to transfer of property to trust

Trust administered under laws of another state or foreign jurisdiction.