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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.
A spendthrift provision creates an irrevocable trust preventing creditors from attaching the interest of the beneficiary in the trust before that interest (cash or property) is actually distributed to him or her. Most well-drafted irrevocable trusts contain spendthrift provisions even though the beneficiaries are not known to be spendthrifts.
Spendthrift trust: It is a trust put into place for the benefit of a person who is unable to control their spending. It gives the trustee the power to decide how the trust funds may be spent for the benefit of the beneficiary.
Here are some signs that you may be a spendthrift. Check Out:... We all like to treat ourselves every now and then, but for some people overspending has become a habit without them even realizing ...
The latter was an epistolary novel in which Charlotte Montgomery describes her own romantic affairs and in addition those of her mother, an unprincipled spendthrift who has just married the miser of the title. [127] Another female novelist, Mary E. Bennett (1813–99), set her The Gipsy Bride or the Miser's Daughter (1841) in the 16th century ...
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
The first reason is that fornication destroys not only the soul but also body, property, honor, and family as well. For we see how a licentious and wicked life not only brings great disgrace but is also a spendthrift life, more costly than wedlock, and that illicit partners necessarily occasion greater suffering for one another than do married ...
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 ...