{"id":3788,"date":"2016-03-11T14:53:56","date_gmt":"2016-03-11T19:53:56","guid":{"rendered":"http:\/\/resources.evans-legal.com\/?p=3788"},"modified":"2019-07-05T14:21:21","modified_gmt":"2019-07-05T18:21:21","slug":"beneficiarys-creditor-could-not-attached-lapsed-crummey-power","status":"publish","type":"post","link":"https:\/\/resources.evans-legal.com\/?p=3788","title":{"rendered":"Beneficiary&#8217;s Creditor Could Not Attach Lapsed Crummey Power"},"content":{"rendered":"<p>Judgment creditor of beneficiary of spendthrift trust could not attach trust assets and could not require distribution of beneficiary&#8217;s right to withdraw contributions to the trust because the right was not a &#8220;power of withdrawal&#8221; as defined by 20 Pa.C.S.A. \u00a7 7703 when it was limited to the federal gift tax annual exclusion (i.e., a &#8220;crummey&#8221; power) and lapsed at the end of the calendar year within the limits of I.R.C. section 2041(e) (which allows lapses of 5% or $5,000 without gift tax consequences).&nbsp; The judgment creditor therefore had no standing to raise objections to the account of the trustee.&nbsp; <em>Clegg Trust<\/em>, 6 Fid.Rep.3d 69 (O.C. Philadelphia 2015) (opinion by Herron, J.).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Judgment creditor of beneficiary of spendthrift trust could not attach trust assets and could not require distribution of beneficiary&#8217;s right to withdraw contributions to the trust because the right was not a &#8220;power of withdrawal&#8221; as defined by 20 Pa.C.S.A. &hellip; <a class=\"more-link\" href=\"https:\/\/resources.evans-legal.com\/?p=3788\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[34],"tags":[50,518,156],"class_list":["post-3788","post","type-post","status-publish","format-standard","hentry","category-opinions","tag-crummey-powers","tag-pef-7703","tag-standing","pmpro-has-access"],"_links":{"self":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/3788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3788"}],"version-history":[{"count":2,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/3788\/revisions"}],"predecessor-version":[{"id":7047,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/3788\/revisions\/7047"}],"wp:attachment":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}