Standard tale of husband and wife living a party lifestyle. He works in a gambling hall and she occasionally models and sings. Because they want to start a family wife feels the need to change their situation. Situation is changed and husband gets a new job and then a promotion but is tricked into a bad business deal and wants to go back to his old life.

The wealthy Van Dyke family are constantly in the media for outrageous behavior, much to the frustration of the patriarch, Dan Van Dyke. His self-centered wife has a fondness for foreign imports, including "pet projects" like dancers and such and his spoiled children Tony and Carol have constant run-ins with the law. When Dan himself ends up in the clink for five years for tax evasion, he becomes bunk-mates with ex-bootlegger Joe "Spots" Ricardi. Ricardi lectures him on being such a push-over for an out-of-control family, so a dying Dan makes Ricardi his estate trustee once he is released from prison. Ricardi is then thrust into high society and must do everything he once nagged Dan to do.