Article On Self-Settled Spendthrift Trusts

Kellsie J. Nienhuser (J.D. Candidate, University of Wyoming School of Law) recently published an article entitled, Developing trust in the self-settled spendthrift trust, 15 Wyo. L. Rev. 551-568 (2015). Provided below is an excerpt from the article:

This comment argues the Wyoming self-settled spendthrift trust, known as the Qualified Spendthrift Trust, is a beneficial component to Wyoming’s Uniform Trust Code. It looks at the history of asset protection trusts and the development of domestic asset protection trust statutes. Next, it discusses common criticisms of self-settled spendthrift trusts. Finally, this comment argues that states should follow Wyoming’s lead in creating self-settled spendthrift trust statutes for three reasons. First, the self-settled spendthrift trust provides substantial benefits to settlors. Second, there are significant economic considerations for allowing self-settled spendthrifts trusts. Third, Wyoming’s statute  provides sufficient limitations of the self-settled spendthrift trust to protect against abuse and defrauding of creditors.