Gwyneth Paltrow: No trust funds for her kids

I once read an interview with a tobacco company exec who was asked if HE smoked, and of course he said no. He then said (in so many words) that the tobacco companies target "the young, the stupid, and the poor". As i told my 21 year old daughter who was smoking at the time, "you can't do anything about being young, but you sure can about being stupid and poor!" I'd be damned if i would EVER smoke after reading that...!

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If a parent provides the tools needed to gain success - good education, loving home, support- then as adults they should be able to assume responsibility for the direction their lives take so forth... Even if they don't have the trust fund they'll make good in Hollywood because they are the children of stars.

I'm not generalizing and saying all poor people smoke or rich people don't. But if a person is of lower income it makes even less sense to spend the little they do have on something as fleeting as a cigarette. They really add up, especially in NY.

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Amen! Now if only the people who don't have millions would do the same for their kids, maybe we'd have a generation of kids who would work instead of play.

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I believe in her ideals. When I was young, I believed that my parents would pay my way and now I know better. My parents homes, cars and money are just that, my parents. It took me 33 years but I am finally graduating college and starting my own collection. A collections that I earned. I am trying to give my children a better life from 0-18 but I also want them to strive for their own by seeing me strive for mine. I don't want my girls to be dependent on me or anyone else.

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I believe in her ideals. When I was young, I believed that my parents would pay my way and now I know better. My parents homes, cars and money are just that, my parents. It took me 33 years but I am finally graduating college and starting my own collection. A collections that I earned. I am trying to give my children a better life from 0-18 but I also want them to strive for their own by seeing me strive for mine. I don't want my girls to be dependent on me or anyone else.

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I believe in her ideals. When I was young, I believed that my parents would pay my way and now I know better. My parents homes, cars and money are just that, my parents. It took me 33 years but I am finally graduating college and starting my own collection. A collections that I earned. I am trying to give my children a better life from 0-18 but I also want them to strive for their own by seeing me strive for mine. I don't want my girls to be dependent on me or anyone else.

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GWYNETH, DONT BE A MORON. YOU START THE TRUST FUNDS AND DONT TELL YOUR CHILDREN. AS LIFE GOES ON AND AN EMERGENCY COMES OR AN OPPORTUNITY TO MAKE MORE MONEY LIKE A BUSINESS, OR SO, YOU CAN GIVE THEM THE SURPRISE WHEN THEY ARE 30. THEY WILL THANK YOU!

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Hmm...Lets see....Steven Speilberg is her godfather. Her mother is one of the best actresses around..her father was a top TV producer. She came into this business, and as talented as she is, alot of stuff was handed to her because of her family, and not because she is the next Meryl Streep.

Im all for making kids work. This is like when you read about actresses keeping weight off....and you see photos of them smoking. She would have had to be pretty bad to not have gotten a career in the entertainment industry. She really didn't have to try too hard to gt her money. She was a millionaire at 25.

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How come there are no pictures of Paltrow smoking cigs? For that matter, I believe over 50% of Hollywood actors and actresses are chain smokers. Where are the paparazzi?

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Why not give them the trust fund when they're 25 or 30 instead of 18 or 21? Why not set it up with conditions such as they only get it if they graduate from college and lead productive lives? Paris Hilton is a prime example of a rich loser. But not every child with a trust fund ends up like her. Look at Caroline and JFK Kennedy Jr. They grew up to be responsible adults despite being raised in a privileged life. If you raise your child right and lead by example, you should be able to expect them to become productive adults who will know how to use their wealth to help others. If on the other hand you spoil them and show them how to ireesponsible and entitled, then that's how they will turn out. It's not about the trust fund. It's about how they're raised that will determine how they approach life when they become adults.

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Paltrow got a "free ride". It's called "parents". Both of hers were Hollywood stars. If that's not a free ride, I don't know what is. There must be something wrong with the water in La-La land. Everyone's a doze!

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MAKE ME ILL HER DAD DIDN'T GIVE HER ANY MONEY MY BUTT SHE HAD HIS NAME AND GOT JOBS IN HOLLYWOOD................................FUNNY HOW BOTH HER AND HER BROTHER WENT INTO SHOW BUSINESS, SHE IS JUST FULL OF HER SELF IS ALL.SHE DOENS'T KNOW WHAT HARD WORK IS. FUNNY HOW ALL THESE HOLLYWOOD PEOPLE ACT LIKE THEY HAVE HAD IT OR HAVE IT SO HARD THEY ARE ALL CRAP. MOST HAVEN'T EVEN FINISHED HIGH SCHOOL. LIKE ANGELINA EVERYONE PRAISING HER FOR HAVING ALL THOSE KIDS I COULD HAVE ALL THOSE KIDS TOO, WITH NANNIES. AND WHY DOES SHE ADOPT FROM OTHER COUNTRIES BECAUSE SHE WANTS PRAISE AND ATTENTION, SHE IS A FREAK THAT WEARS BLOOD VIALS ON HER NECK FOR GODSAKES. GO INTO THE COMMUNITIES THAT IS WHERE THE HEROES R NOT THESE FAKE HOLLYWOOD PEOPLE

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It's funny how the same parents who don't want to do too much for their kids financially can become the same ones who want help when the tables turn. My mom didn't do much to help me when I was in college but has made it clear if I ever become rich (I'm an aspiring writer), she'd be upset if I didn't share the wealth with her. She's better off financially than I am and I never ask her for anything. But, I know if I had money she'd ask me for plenty. She even got upset when I said if I become wealthy I'd help her sister who is struggling financially. My mother has money but actually got upset at the thought of me helping someone in need instead of her when she is not in need. What kind of logic is that?

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Rich parents who never allow a child to earn a living condem them to failure, just as a government that continues to provide unemployment to people who turn down jobs, and social service to those who will not work.

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Rich parents who never allow a child to earn a living condem them to failure, just as a government that continues to provide unemployment to people who turn down jobs, and social service to those who will not work.

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Gee Gwyneth are you going to leave your monies to some charity so they can put it in the own pocket instead of helping some one with it I feel real sorry for your kids to be that dam selfish not to help them. Have you check the news how bad everything is getting.
And you want to make sure you kids end up on the streets poor and homeless. Your are a hell of a mother to do that to your children. Amen to that one ppl

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I thought the solution Robert Heinlein came up with in his book "Number of the Beast" was rather elegant. A very wealthy (okay superwealthy) patriarch of his clan dictated that in order to inherit a share of the family fortune, the child must amass a fortune of his own equal to that share. If he did, his money was automatically doubled. If he didn't, he didn't get a penny.

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I understand her delima. My attorney told me that many trust administrators charge such high commissions and that they charge on the value of the account and not what income they generate, if they even generate any income at all, that fees eat up much of the value of a trust over the years. In my case, where the value of my assets is in forestry, my attorney says that most trust managers have no idea how to manage this type of asset and that the fees eat up the valve of the asset quickly and leave your loved ones with nothing. I have determined that a trust is not the way for me to go.

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