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A spendthrift trust is a trust that limits the beneficiary's access to the trust assets ing to specific terms the grantor sets. Spendthrift trusts help ensure that beneficiaries can't squander their inheritance; they also protect trust assets from creditors.

The beneficiary is never the trustee of a spendthrift trust. Instead, the trustee can be another family member, a family friend, or even a corporate trustee like a bank. The trustee will spend the money for the beneficiary's needs or could make payments directly to the beneficiary, as the trust document allows.

The pros of a spendthrift trust are that it can prevent creditors and lawsuits from attaching to the beneficiary's assets and provide a steady income stream. The downside is that it can be expensive to set up and maintain, and the beneficiary may be able to challenge the trust's spendthrift provisions in court.

For example, let's say you have an estate worth $2 million. Instead of gifting the estate in its entirety at once, a spendthrift provision could arrange to disperse any dividends earned on a quarterly basis. As the 'grantor,' or the person who created the trust, you must appoint a trustee.

A notice of intent to lien is a legal document that is filed by a contractor or supplier who has not been paid for goods or services provided to a property owner. The notice serves as a warning to the property owner that the contractor or supplier intends to file a lien on the property if the debt is not paid.

About Indiana Notice of Intent to Lien Form No one wants to be forced to file a mechanics lien, and this document gives all of the parties involved one final chance to take care of the payment issues on a project. This form advises the party that a lien will be filed if payment is not received within 10 days.