A. A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.\nB. A term of a trust providing that the interest of a beneficiary is held subject to a 'spendthrift trust,' or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.\nC. A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this article, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.\n2005, c. 935, § 55-545.02; 2012, c. 614.
Virginia Legal Code