Gwyneth Paltrow: No trust funds for her kids

I think Warren Buffet takes the same approach... isn't one of his daughters a nanny?

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Is that what happened to Paris Hilton?

You go Gwyenth!!!

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We all know that Hollywood acts like a bunch of groupies: what one does they all do. They all name their kids weird names, they all are liberal Democrats supporting Barack Obama and now the new thing is to place their kids in poverty at age 21. Watch what happens 20 years from now - a bunch of resentful kids coming out with expose books about their greedy parents. No one says you have to give your kids a silver lining but a little head start is the least you can offer especially if your kid's name is a fruit.

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I agree with her teach your children to be responsible

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Good for you Gwyneth. My parents are wealthy and there are 3 of us kids. Two of us work and one is a free loader. She has no passion to work. No incentive to educate herself. She always know all of her bills will be paid NO MATTER WHAT. Some adults can be responsible and make their own way some will sit on their butt and not. I wish my parents would cut my sister off.

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Yes, Warren Buffet has said that he's leaving his children a VERY small inheritance - not enough for them to live off of, so they will still be "forced" to work.

While I agree with Gwyneth's sentiments about money, I don't believe for a second that she struggled in her life. Her entire early film career was a gift from her parents (she was offered her first film role in "Hook" by Steven Speilberg himself). She didn't have to audition, do the TV or B-movie route, or struggle the way other famous actors have. How else do you explain winning an Oscar at age 27?

Also, to answer the question about cigarettes: it is often the POOREST people who buy them. I was poor throughout college (actually poor, not Gwyneth-poor), and had a bad nicotine habit that cost me every penny I had back then.

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Let Gwyneth have her FRIGGIN CIGARETTES people. Some of you drink alcohol/ drink starbucks/ or get fast food when you are barely scrapping by. At least she used her tip money instead of charging it on a credit card. Everyone has their own VICE.

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gwyneth made it soley because of her name and being the daughter of a celebrity. get over it..!!

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I dont have any children of my own. But when I do get around to creating a will, lets just say my nieces will be very surprised when they are at LEAST 30 years old.

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There is a big difference between leaving (or providing) your children enough money to pay off a mortgage, take care of medical bills, etc. than leaving (or providing) them with enough money that they don't have to do anything for their entire life. I know a few people who are "trust fund kids" and their lives have gone 1 of 2 ways:
1. They have a college education but do nothing cause they don't have to work and then complain that they never have enough money (while looking out the window of their $5000 a month beach front apartment.) [This same 'kid' spent over $200,000 on his dad's credit card in 1 year..in addition to the money he was pulling off his trust fund.]
or
2. They never take for granted the money that has allowed them to pursue their passions and constantly seek to better themselves.

I cannot begin to tell you how badly I want to slap type #1 upside their heads and tell them to stop b!tching. I plan to pay to put my kids through college and help them when they need it but I can definately see why I would hesitate to hand them over control of a trust fund worth millions when they turn 25.

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None of my business
None of AOLs business
Gossip is boriing
The Gossip business is Evil

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My brother feeld the same way. He won't give his kids any money and he has plenty. He feels they should develop a work ethic. He is the same one who forgets his wallet when our famillies go out and eat....twice!

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