Spendthrift Clauses

question 50

Multiple Choice

Spendthrift clauses:

• A) restrict the voluntary or involuntary transfer of a beneficiary's interest in a trust.
• B) prevent creditors who have furnished necessaries from compelling payment.
• C) enable a person to put their own property beyond the claims of their own creditors.
• D) prevent divorced spouses from claiming alimony.

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Definitions:

Piece Rate Pay

A compensation system where employees are paid based on the amount of work they complete rather than the hours worked.

Hourly Wage

Compensation paid to an employee based on the number of hours worked.

Variable Pay

A portion of employees’ pay that is based on a measure of performance.

Performance Measure

Metrics or standards used to evaluate the effectiveness, quality, or success of a task, process, or organization.