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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.
In trust law, a spendthrift trust is a trust that is created for the benefit of a person (often unable to control his/her spending) that gives an independent trustee full authority to make decisions as to how the trust funds may be spent for the benefit of the beneficiary.
The Spendthrift is an 1857 historical novel by the British author William Harrison Ainsworth. [1] It was published in a single volume by London publisher Routledge. [2] It was initially serialised in Bentley's Miscellany from January 1855. [3] Illustrations were provided by Hablot Knight Browne. It is set in the eighteenth century and follows ...
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 ...
A woodcut from the 1814 edition of Samuel Croxall's The Fables of Aesop. The story appears only in Greek sources in ancient times and may have been invented to explain the proverb 'One swallow does not make a spring' (μία γὰρ χελιδὼν ἔαρ οὐ ποιεῖ), which is recorded in Aristotle's Nicomachean Ethics (I.1098a18). [1]
In June 1874, WT Hughes and his wife were relocating to a smaller farm in a nearby county, riding alongside the Kentucky River in their buggy, with pack wagons full of chattel and children following behind, when William was shot and killed from the cliff top by his uncle Granville Smith. Later that day Smith (1807–1874) shot himself.
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.
The Spendthrift is a 1915 silent film drama directed by Walter Edwin and starring Irene Fenwick. [1] It is based on a 1910 Broadway play, The Spendthrift, by Porter Emerson Browne. [2] It is a surviving film in the Library of Congress collections. [3]