noun: (slang) A young person with the fashion sensibilities of a hippie, or any other countercultural trend, especially anarchism, Maoism, or punk rock, who subscribes to an unemployed, shiftless life of hedonism based upon an unlimited amount of funds (a trust fund).
noun: 2003, Kate Gardner, Meat Me in Manhattan: A Carnivore's Guide to New York http://books.google.com/books?vid=ISBN0970312571&id=wQt-LEMEezUC&pg=RA13-PT21&lpg=RA13-PT21&dq=trustafarian&sig=wicOp5oWIhv63G3Ocejx7eOsyro
noun: 2012, Hannah Richell, The Secrets of the Tides, →ISBN, page 425:
noun: I'm your typical trustafarian, I'm afraid: spoilt little rich kid living the dream off his inheritance.