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A spendthrift (also profligate or prodigal) is someone who is extravagant and recklessly wasteful with money, often to a point where the spending climbs well beyond their means. Spendthrift derives from an obsolete sense of the word thrift to mean prosperity rather than frugality, [ 1 ] so a "spendthrift" is one who has spent their prosperity.
Several states have changed their laws to provide that a person may create a self-settled spendthrift trust (i.e., a spendthrift trust for his or her own benefit). Such trusts are also called Domestic Asset Protection Trusts ("DAPT"), and sometimes informally called "Alaska trusts", as Alaska was a pioneer in allowing this kind of spendthrift ...
Spendthrift is a 1936 American romantic comedy film directed by Raoul Walsh and starring Henry Fonda, Pat Paterson, Mary Brian and George Barbier. It was produced by Walter Wanger for release by Paramount Pictures .
Spendthrift Farm is a thoroughbred race horse breeding farm and burial site in Lexington, Kentucky, currently owned by Eric & Tammy Gustavson. [1] It was founded by Leslie Combs II and named for the great stallion Spendthrift , who was owned by Combs' ancestor, Daniel Swigert of Elmendorf Farm .
A Spendthrift is someone who spends money prodigiously. Spendthrift or The Spendthrift may also refer to: Spendthrift (horse) (1876–1900), American Thoroughbred racehorse and sire; The Spendthrift by written Porter Emerson Browne; Spendthrift, 1936 American film; The Spendthrift, American silent film drama directed by Walter Edwin
In 1937, he bought 127 acres in Lexington from Daniel Swigert and called it Spendthrift Farm in honor of Spendthift. [1] Together with his uncle Brownwell Combs, he owned Myrtle Charm and Myrtlewood. [1] He was also the breeder of Majestic Prince, later owned by Frank M. McMahon. [2]
The spendthrift clause has three general exceptions to the protection afforded: the self-settled trusts (if the settlor of a trust is also a beneficiary of a trust), the case when a debtor is the sole beneficiary and the sole trustee of a trust, and the support payments (a court may order the trustee to satisfy a beneficiary's support ...
In 1983, a man by the name of Ed Plaut purchased shares in a horse farm located in the state of Kentucky.The farm was known as Spendthrift Farm, Incorporated.Four years later, in 1987, Plaut—alongside other investors—filed suit against Spendthrift Farm, thereby launching a class action lawsuit over securities fraud in federal court.