(a) The settlor of a spendthrift trust or domestic asset protection trust has only the powers and rights that are conferred to the settlor by the trust instrument. (b) An agreement or understanding, express or implied, between the settlor and the trustee that attempts to grant or permit the retention of greater rights or authority than is stated in the trust instrument is void. Added by Act 2023, No. 291,§ 1, eff. 8/1/2023. (a) The settlor of a spendthrift trust or domestic asset protection trust has only the powers and rights that are conferred to the settlor by the trust instrument. (b) An agreement or understanding, express or implied, between the settlor and the trustee that attempts to grant or permit the retention of greater rights or authority than is stated in the trust instrument is void. Added by Act 2023, No. 291,§ 1, eff. 8/1/2023. (a) The settlor of a spendthrift trust or domestic asset protection trust has only the powers and rights that are conferred to the settlor by the trust instrument. (b) An agreement or understanding, express or implied, between the settlor and the trustee that attempts to grant or permit the retention of greater rights or authority than is stated in the trust instrument is void. Added by Act 2023, No. 291,§ 1, eff. 8/1/2023. (a) The settlor of a spendthrift trust or domestic asset protection trust has only the powers and rights that are conferred to the settlor by the trust instrument. (b) An agreement or understanding, express or implied, between the settlor and the trustee that attempts to grant or permit the retention of greater rights or authority than is stated in the trust instrument is void.
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