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Taft /taft/ [1 syll.] as a boys' name is of Old French origin, and the meaning of Taft is homestead. Also possibly (Old English) marsh; river. William Howard Taft was 26th American President and was appointed Chief Justice of the Supreme Court after his retirement from politics.
The surname is probably better known in the United States of America, with William Howard Taft being the 27th President of the Union from 1909 to 1913, then later the tenth Chief Justice of the United States.