Mass. Gen. Laws ch. 203E § 506

Current through Chapter 223 of the 2024 Legislative Session
Section 203E:506 - Overdue distribution
(a) In this section, "mandatory distribution" shall mean a distribution of income or principal which the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. "Mandatory distribution" shall not include a distribution subject to the exercise of the trustee's discretion even if: (1) the discretion is expressed in the form of a standard of distribution; or (2) the terms of the trust authorizing a distribution couple language of discretion with language of direction.
(b) Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date.

Mass. Gen. Laws ch. 203E, § 506

Added by Acts 2012, c. 140,§ 56, eff. 7/8/2012.