(spendthrift trust beneficiary executed $350,000 personal guarantee to company in which beneficiary was principal; beneficiary represented that he had almost $7 million available to him in the trust; business defaulted and trustee refused payment on guarantee due to trust's spendthrift limitation; lender sued on basis that state (FL) law makes enforceability of spendthrift trust provisions a violation of guarantee of equal access to courts contained in FL Constitution and that there is no longer a common law right to execute money judgment against any beneficial interest that debtor held; trial court granted summary judgment to trustee and appellate court affirmed; validity of spendthrift limitations recognized before statutory amendments and have not been abolished).
Zlatkiss v. All America Team Concepts, LLC, No. 5D12-3324, 2013 Fla. App. LEXIS 8584 (Fla. Ct. App. May 31, 2013)
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