Virginia Code
Va. Code Ann. § 64.2-743 (2026)
Spendthrift provision
✓ laws through the 2026 session (checked Sept. 2026)
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A. A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.
B. 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.
C. 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.
Notes of Decisions
Cited in 2
cases (1 in the last 5 years), 2014–2023 · leading case: Saunders v. AMG Nat'l Trust Bank, 88 Va. Cir. 389 (Norfolk Cir. Ct. 2014).
Saunders v. AMG Nat'l Trust Bank, 88 Va. Cir. 389 (Norfolk Cir. Ct. 2014). “Virginia Code § 64.2-743 (c), cited by Respondent, does not shed any light on the *393 materiality of a spendthrift provision and does not mandate continuation of trusts that have them when the beneficiaries consent to terminate.”
R.B. v. C.C., No. 22-P-0520 (Mass. App. Ct. Oct. 6, 2023). “See also Va. Code Ann. § 64.2-743 . She also must ensure that, in making distributions to herself, she does not breach her fiduciary duties to the other beneficiaries.”
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