In Part I, I shall explore restraints against voluntary alienation: that is, restrictions on a beneficiary’s right to terminate the arrangement-to take the money and run. In Part II, I shall proceed to restraints against involuntary alienation: that is, restrictions on creditors’ rights to reach the trust corpus in order to satisfy their claims. Finally, in Part III, I take up the refinement of spendthrift trust doctrine: assuming the expediency…

Parts II and III discuss the practical problem with prohibitory remedies, that they are in fact inadequate to the tasks the critics have posited for them. Parts IV and V present the normative justification for a remedial system that relegates prohibitory remedies, and thus full compensation, to a secondary role.