A spendthrift trust is a trust in which the person who makes the trust and places property or assets in it (the grantor, settlor, or trustor) includes a provision that prohibits the beneficiary’s interest in the trust from being assigned to another person or entity—whether as a gift or as collateral for a loan or debt—and prevents a creditor from reaching or attaching the beneficiary’s interest in the trust.

A spendthrift is a person who spends money wastefully or foolishly and a spendthrift provision in a trust (a spendthrift trust) is designed to preserve the trust’s assets and protect the beneficiary from the beneficiary’s spendthrift ways.

In Missouri, a spendthrift trust is a legal tool used to protect a beneficiary's interest in a trust from creditors and from the beneficiary's own potentially imprudent spending. Under Missouri law, spendthrift provisions are recognized and enforceable. These provisions prevent the beneficiary from transferring their interest in the trust, either voluntarily or involuntarily, to another party. This means that creditors generally cannot reach the trust assets to satisfy the beneficiary's debts, except in certain circumstances such as claims for child support, alimony, or services provided to protect the beneficiary's interest in the trust. Missouri statutes specifically allow for the creation of spendthrift trusts, and the state's courts have upheld such provisions, provided they are properly drafted and do not violate public policy or other legal principles.