Spendthrift

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Related to spendthrifts: Spendthrift clause

Spendthrift

One who spends money profusely and improvidently, thereby wasting his or her estate.

Under various statutes, a spendthrift is a person who wastes or reduces her estate through excessive drinking, gambling, idleness, or debauchery in a manner that exposes that individual or her family to indigence or suffering or who exposes the government to expense for the support of that person or her family.

When authorized by law, a guardian can manage a spendthrift's property. The purpose of the guardianship is to protect the ward and her property from her wasteful habits. Statutes that provide for the guardianship of spendthrifts are based on the right of the government to protect the property of its citizens for the benefit of themselves and their families and the community.

Cross-references

Spendthrift Trust.

See: improvident, prodigal, profligate, profuse

SPENDTHRIFT. By the Rev. Stat. of Vermont, tit. 16, c. 65, s. 9, spendthrift is defined to be a person who by excessive drinking) gaming, idleness or debauchery of any kind, shall so spend, waste, or lessen his estate as to expose himself or his family to want or suffering, or expose the town to charge or expense, for support of himself or family.

References in periodicals archive ?
Our famously thrifty Maj taking advice on finances from those self-important spendthrifts in Whitehall?
These are the ones who will be your spendthrifts of tomorrow.
A smaller percentage of people are spendthrifts who thrive on luxury purchases.
The Trusteed IRA is targeted to those individuals in second marriages with children from the first, those with concerns that their beneficiaries may be spendthrifts or have poor money management skills and single parents with adult or minor children.
While that is not crystal clear, the notion that tightwads and spendthrifts have trouble managing a household together makes perfectly good intuitive sense.
ONE in three single women in the UK find prudent men sexier than spendthrifts, research revealed today.
But a third of females actually find prudent men sexier than show-off spendthrifts.
And he will tell a Tory conference in Cheltenham he will promote ministers who save cash and sack spendthrifts.
SPENDTHRIFTS who blow a fortune in the sales can blame their parents.
Surely, on the basis that poachers make the best gamekeepers, this makes Sir John the best man for the job of hunting down spendthrifts wasting our money
But disciplined spendthrifts claim coupons can shave up to 75percent off monthly grocery bills.
MANCHESTER United square up to Premiership spendthrifts Arsenal in the Community Shield tomorrow with Phil Neville insisting the Gunners will still be the team to beat this season.