Spendthrift Trust

A trust created for the purpose of providing for the maintenance of a person, and at the same time putting the property from which such maintenance is derived beyond the reach of the improvidence of the beneficiary. It is generally held that such trusts are ineffective, on the ground that the beneficial interest of the cestui que trust, whatever it may be, is liable for his debts (5 [Wall.] U. S. 441; 15 Ohio St. 419); but in some states, such trust provisions have been upheld (20 Mo. App. 1; 86 Tenn. 81). SPERATE (Lat. spero, to hope.) That of which there is hope. In the accounts of an executor and the inventory of the personal assets, he should distinguish between those which are sperate and those which are desperate. He will be prima facie responsible for the former, and discharged for the latter. 1 Chit Prac. 520; 2 Williams, Ex'rs, 644; Toller Ex'rs, 248. See "Desperate." SPES EST VIGILANTIS SOMNIUM Hope is the dream of the vigilant. 4 Inst. 203. SPES IMPUNITATIS CONTINUUM AF fectum tribult delinquendl. The hope of im punity holds out a continual temptation to crime. 3 Inst. 236. SPES RECUPERANDI (Lat. the hope of recovery). A term applied to cases of capture of an enemy's property as a booty or prize, while it remains in a situation in which it is liable to be recaptured. As between the belligerent parties, the title to the property taken as a prize passes the moment there is no longer any hope of recovery. 2 Burrows, 683.

A term commonly applied to those trusts which are created with a view of providing a fund for the maintenance of another, and at the same time securing it against his improvidence or incapacity for his protection. Provisions against alienation of the trust fund by the voluntary act of the beneficiary or by his creditors are the usual incidents. Bennett v. Bennett, 66 III. App. 28; Guernsey v. Lazear, 51 W. Va. 328, 41 S. E. 405.

Defined under Spendthrift in Black's Law Dictionary.