A provision in a trust or will that states that if a prospective beneficiary has pledged to turn over a gift he/she hopes to receive to a third party, the trustee or executor shall not honor such a pledge. the purpose is to prevent a “spendthrift” beneficiary from using a potential gift as security for credit on a speculative investment. example: junior jones is talked into an investment in florida swampland but has no money in hand to pay for it. so he tells the developer he will soon receive $50,000 from his aunt’s trust and signs an assignment of the expected $50,000 to the developer. when the aunt dies, the trustee must ignore the developer’s demand for payment based on the written assignment but may pay the funds directly to junior.