PACHTER, GOLD & SCHAFFER v. YANTIS

Civ. No. FS-89-69.

742 F.Supp. 544 (1990)

PACHTER, GOLD & SCHAFFER, a Professional Corporation, Plaintiff, v. John M. YANTIS, Defendant, Col. Roy Henson, Auctioneer, Garnishee.

United States District Court, W.D. Arkansas, Fort Smith Division.

August 10, 1990.


Attorney(s) appearing for the Case

John R. Beasley, Fort Smith, Ark., for plaintiff.

Joel D. Johnson, Fort Smith, Ark., for defendant.

W. Gary Kennon, Bentonville, Ark., for garnishee.


MEMORANDUM OPINION

MORRIS SHEPPARD ARNOLD, District Judge.

In 1956, Eva Vick Yantis created a so-called "spendthrift trust" for her children. The trust provided that no principal or income could be attached by creditors prior to its receipt by beneficiaries. (Def. Exh. 1, at 6). See Bowlin v. Citizens Bank & Trust Co., 131 Ark. 97, 101-02, 198 S.W. 288, 289 (1917) (holding that spendthrift trusts are valid under Arkansas law). The first codicil...

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