Title 18-B: TRUSTS HEADING: PL 2003, C. 618, PT. A, §1 (NEW); §2 (AFF) EFFECTIVE 7/1/05
Part 1: MAINE UNIFORM TRUST CODE HEADING: PL 2003, C. 618, PT. A, §1 (NEW); §2 (AFF) EFFECTIVE 7/1/05
Chapter 5: CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS HEADING: PL 2003, C. 618, PT. A, §1 (NEW); §2 (AFF) EFFECTIVE 7/1/05
§504. Discretionary trusts; effect of standard
1.Creditor may not compel distribution.
Whether or not a trust contains a spendthrift provision, a creditor of a beneficiary may not compel a distribution that
is subject to the trustee's discretion, even if:
A. The discretion is expressed in the form of a standard of distribution; or [2003, c. 618, Pt. A, §1 (NEW); 2003, c. 618, Pt. A, §2 (AFF).]
B. The trustee has abused the discretion. [2003, c. 618, Pt. A, §1 (NEW); 2003, c. 618, Pt. A, §2 (AFF).]
2003, c. 618, Pt. A, §1 (NEW);
2003, c. 618, Pt. A, §2 (AFF)
2.Right of beneficiary not limited.
This section does not limit the right of a beneficiary to maintain a judicial proceeding against a trustee for failure to
exercise a discretionary power in accordance with the terms and purposes of the trust or for failure to comply with a standard
2005, c. 184, §11 (AMD)
If a trustee's or cotrustee's discretion to make distributions for the trustee's or cotrustee's own benefit is limited by
an ascertainable standard, a creditor may not reach or compel distribution of the beneficial interest except to the extent
the interest would be subject to the creditor's claim were the beneficiary not acting as trustee or cotrustee.
2011, c. 42, §5 (RPR)
2003, c. 618, §A1 (NEW).
2003, c. 618, §A2 (AFF).
2005, c. 184, §§11,12 (AMD).
2011, c. 42, §5 (AMD).
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