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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.
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 ...
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 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 ...
Sir Edward Hungerford, KB (20 October 1632 – 1711), was an English politician who sat in the House of Commons between 1659 and 1702. He was famous for his profligate ways and sold thirty manors, including the family seat at Farleigh Hungerford, to fund his extravagant lifestyle.
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. Spendthrift was the great-grandfather of Man o' War.
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]