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A trust created for a beneficiary that the grantor believes to be financially irresponsible. A trustee controls the trust income and provides money to the beneficiary on an as needed or instructed basis. The trusts may also contain provisions where creditors cannot seize the trust to satisfy debts of the beneficiary and, in most states, they are legal. … [Read more...] about SPENDTHRIFT TRUST

Dividing a single cause of action, claim, or demand into two or more parts, and bringing suit for one of such parts only, Intending to reserve the rest for a separate action. . The plaintiff who does this is bound by his flrst judgment and can recover no more. … [Read more...] about SPLITTING A CAUSE OF ACTION

That of which there is hope. 2. In the accounts of an executor and the inventory of the personal assets, he should distinguish between those assets which are separate, and those which are desperate; he will be prima facie responsible for the former, and discharged for the latter. … [Read more...] about SPERAT

(A) Eng. eccl. law. The name of a suit sued out in the spiritual court to recover for the fruits of the church, or for the church itself. . 2. It is also a waste of church property by an ecclesiastical person. 3 Bl. Com. 90. (B) torts. Destruction of a thing by the act of a stranger; as, the erasure or alteration of a writing by the act of a stranger, is called spoliation. This … [Read more...] about SPOLIATION

That of which there is hope. Thus a debt which one may hope to recover may be called "sperate," in opposition to "desperate." See 1 Chit. Pr. 520. … [Read more...] about SPERATE