diff --git a/README.md b/README.md
index 5429acb7..0e308d77 100644
--- a/README.md
+++ b/README.md
@@ -94,6 +94,25 @@ User.without_settings_for(:calendar)
 ```
 
 
+### Defaults as Proc
+```ruby
+class User < ActiveRecord::Base
+  has_settings :calendar, :defaults => Proc.new{ |target| target.company.settings(:calendar)._all }
+end
+
+class Company < ActiveRecord::Base
+  has_settings :calendar, :defaults => { view: 'week' }
+end
+
+user = User.new
+user.settings(:calendar).view
+# => 'week'
+
+user.settings(:calendar)._all
+# => { view: 'week' }
+```
+Warning! Be carefull with User.default_settings, it contains Proc instead of Hash.
+
 ## Requirements
 
 * Ruby 1.9.3 or 2.0.0
diff --git a/lib/rails-settings/configuration.rb b/lib/rails-settings/configuration.rb
index 7a275e92..19d441d5 100644
--- a/lib/rails-settings/configuration.rb
+++ b/lib/rails-settings/configuration.rb
@@ -26,7 +26,7 @@ def initialize(*args, &block)
     def key(name, options={})
       raise ArgumentError.new("has_settings: Symbol expected, but got a #{name.class}") unless name.is_a?(Symbol)
       raise ArgumentError.new("has_settings: Option :defaults expected, but got #{options.keys.join(', ')}") unless options.blank? || (options.keys == [:defaults])
-      @klass.default_settings[name] = (options[:defaults] || {}).stringify_keys.freeze
+      @klass.default_settings[name] = options[:defaults].is_a?(Proc) ? options[:defaults] : (options[:defaults] || {}).stringify_keys.freeze
     end
   end
 end
diff --git a/lib/rails-settings/setting_object.rb b/lib/rails-settings/setting_object.rb
index 6b8b2e1a..223ee777 100644
--- a/lib/rails-settings/setting_object.rb
+++ b/lib/rails-settings/setting_object.rb
@@ -42,6 +42,10 @@ def method_missing(method_name, *args, &block)
       end
     end
 
+    def _all
+      (_get_defaults || {}).merge(value)
+    end
+
   protected
     if ActiveRecord::VERSION::MAJOR < 4
       # Simulate attr_protected by removing all regular attributes
@@ -53,7 +57,7 @@ def sanitize_for_mass_assignment(attributes, role = nil)
   private
     def _get_value(name)
       if value[name].nil?
-        _target_class.default_settings[var.to_sym][name]
+        _get_defaults[name]
       else
         value[name]
       end
@@ -75,6 +79,15 @@ def _target_class
       target_type.constantize
     end
 
+    def _get_defaults
+      # Cache result if defaults is a Proc
+      if _target_class.default_settings[var.to_sym].is_a?(Proc)
+        _target_class.default_settings[var.to_sym].call(target) 
+      else
+        _target_class.default_settings[var.to_sym]
+      end
+    end
+
     # Patch ActiveRecord to save serialized attributes only if they are changed
     if ActiveRecord::VERSION::MAJOR < 4
       # https://github.com/rails/rails/blob/3-2-stable/activerecord/lib/active_record/attribute_methods/dirty.rb#L70
diff --git a/spec/setting_object_spec.rb b/spec/setting_object_spec.rb
index 4e717017..112dca6f 100644
--- a/spec/setting_object_spec.rb
+++ b/spec/setting_object_spec.rb
@@ -94,6 +94,10 @@
         saved_setting_object.theme = nil
         saved_setting_object.value.should == { 'filter' => false }
       end
+
+      it "should return all possible values" do
+        saved_setting_object._all.should eq({ 'theme' => 'pink', 'filter' => false, 'view' => 'monthly'})
+      end
     end
   end
 
diff --git a/spec/settings_spec.rb b/spec/settings_spec.rb
index 0e21b292..2b9d450b 100644
--- a/spec/settings_spec.rb
+++ b/spec/settings_spec.rb
@@ -204,3 +204,13 @@
     project.settings(:info).should be_valid
   end
 end
+
+describe "CompanyUser with Proc as defaults" do
+  let(:company) { Company.create! :name => 'Rails Inc' }
+  let(:company_user) { CompanyUser.create! :name => 'John', :company_id => company.id }
+
+  it "should have default settings as Company" do
+    company_user.settings(:calendar).view.should eq(company.settings(:calendar).view)
+  end
+
+end
diff --git a/spec/spec_helper.rb b/spec/spec_helper.rb
index 3760c127..eea3afdb 100644
--- a/spec/spec_helper.rb
+++ b/spec/spec_helper.rb
@@ -52,6 +52,14 @@ class ProjectSettingObject < RailsSettings::SettingObject
   end
 end
 
+class CompanyUser < ActiveRecord::Base
+  has_settings :calendar, :defaults => Proc.new{ |target| target.company.settings(:calendar)._all }
+end
+
+class Company < ActiveRecord::Base
+  has_settings :calendar, :defaults => { view: 'week' }
+end
+
 def setup_db
   ActiveRecord::Base.configurations = YAML.load_file(File.dirname(__FILE__) + '/database.yml')
   db_name = ENV['DB'] || 'sqlite'
@@ -86,10 +94,21 @@ def setup_db
     create_table :projects do |t|
       t.string :name
     end
+
+    create_table :company_users do |t|
+      t.string :name
+      t.references :company, :null => false
+    end
+
+    create_table :companies do |t|
+      t.string :name
+    end    
   end
 end
 
 def clear_db
+  Company.delete_all
+  CompanyUser.delete_all
   User.delete_all
   Account.delete_all
   RailsSettings::SettingObject.delete_all