Miscellaneous Celebrity News

[myrosiedog]

Originally Posted by MizDaisy

Good grief, I believed that myth about Linda Eastman's family for longer than I care to admit. It was the common wisdom back in the day. Thanks for the real story!

If she left her money to Paul, I'll bet their kids are thrilled to know that Heather wants a piece of it.

I used to believe it too and she was really into photography which also helped that myth survive a while. I think it was when she died that I finally found out the truth.

I agree with Gabriel. Maybe Paul should give his kids some money and give the rest to charity now and keep just enough to sustain him for the rest of his life. If it's gone, Heather can't get it.

[Google]

 

[prhoshay]

I'm one of those people who, too, thinks it a good idea to give inheritances before you die. Keeps drama idiocy down to a minimum (won't stop people from crabbing, though). "There you go! Over and done!! Now, shut up and leave me alone!"

[Margaritaville]

Who was it that said "Leave them enough to do whatever they want, but not enough to do nothing." ?? I remember Barbara Walters quoting someone, and I cannot remember who it was. Warren Buffet comes to mind - but I'm not sure it was him. Very wise man.

Yep - here it is... from Wikipedia -

His children will not inherit a significant proportion of his wealth. These actions are consistent with statements he has made in the past indicating his opposition to the transfer of great fortunes from one generation to the next. Buffett once commented, "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing"

[Lois Lane]

Oh yeah, I didn't mean that Paul should leave all his money to his kids. Frankly, he can do whatever he'd like with it. Sting said the same thing--he'd leave some money to his children but not all of it--the majority will go to charities. I think that's a great idea. Leave some for your children (or whoever you'd like to leave it it), but leave the rest to charities and schools and orphanages and hospitals etc. I also think that as you see how your children turn out, you should adjust the wills so that maybe they get a little less. Do these parents really think they're doing any good by letting their snotty kids (Hello, Brandon Davis!) run around spending all this money that they never worked a day in their lives for? I'll never be Paul McCartney rich, but Mr. Lane and I have some savings... if we ever have a child, we'll have enough money to put him/her through whatever college they get into, pay for their wedding and give them some money towards a downpayment on their first home. Then Mr. Lane and I intend on spending the rest of our hard earned money on OURSELVES being cool old people! If we're lucky enough to live long enough to meet our grandchildren, then we will set some money aside in a trust for their college fund. But yeah, kids need to learn to make it on their own!

[ArchieComic Fan]

I'm going to raise my hand and admit that if my parents had the money of Bill Gates or Aaron Spelling, that I'd feel a bit disappointed if all I got was a few hundred thousand. I'm not saying they're owed a large sum (or anything for that matter really) but it's human nature to think that if your parents are billionaires that they'd throw a few million your way. I understand the need for children to earn their money and not be sponges off of mommy or daddy's hard earned cash (but in some instances these famous parents inherited their money as well - but not Bill or Aaron in my example) but come on. These are your parents for goodness sakes! I'd think that as long as I was making my way in the world and not jet setting around living on a family allowance that I'd get a little something-something in the will .

[Lois Lane]

I think if you grow up knowing that your parents aren't going to leave everything to you, you have different expectations. Apparently that's what Sting told his kids early on, so they can't really say they were shocked. I have no idea what Paul and Linda told their kids, but I think Bill Gates and his wife are raising their children (child?) to know that they will get something, but not everything.

I read Tori Spelling's book and whoever wrote it for her did so in a fun way. She said that for her, the most shocking part was that she was raised to buy whatever she wanted without looking at price tags and without worrying abut how it would be paid...so she just assumed that's how it would always be...that she'd get a nice chunk of her dad's money after he died. If what she wrote was true, her mother is a piece of work. Even with all of her husband's money, she wouldn't pay for the brunch after the wedding, so Tori and her inlaws (with her first husband) had to cough up the $9,000 for the brunch. (!! Who pays that much for brunch?!) And apparently the brunch at the fancy hotel was Tori's mom's idea...

[Bunny555]

Originally Posted by Lois Lane

I read Tori Spelling's book and whoever wrote it for her did so in a fun way. She said that for her, the most shocking part was that she was raised to buy whatever she wanted without looking at price tags and without worrying abut how it would be paid...so she just assumed that's how it would always be...that she'd get a nice chunk of her dad's money after he died. If what she wrote was true, her mother is a piece of work. Even with all of her husband's money, she wouldn't pay for the brunch after the wedding, so Tori and her inlaws (with her first husband) had to cough up the $9,000 for the brunch. (!! Who pays that much for brunch?!) And apparently the brunch at the fancy hotel was Tori's mom's idea...

I thought Aaron Spelling was alive when Tori first married and did throw a lavish wedding reception though I could be mistaken. I'm with you Lois, if I grew up knowing that kind of wealth, I'd probably assume that I would never want for anything.

[Lois Lane]

Originally Posted by Bunny555

I thought Aaron Spelling was alive when Tori first married and did throw a lavish wedding reception though I could be mistaken. I'm with you Lois, if I grew up knowing that kind of wealth, I'd probably assume that I would never want for anything.

Her dad was alive for her first wedding to that guy Charlie, but apparently (according to the book) he was loving but clueless about money. And this is all from the book--so it's Tori's version, not necessarily reality: When he was getting sicker (but not senile), Tori talked to him about his money and whether he had a will drawn up etc. He said he would check with his business manager and later told her that she would be well taken care of--that she and her brother would get hundreds of thousands. She said she got the feeling that he didn't realize how much money he had--millions, not thousands. Tori and Charlie had wanted a beach wedding on July 4...and that's what they sent out to all their guests on those "Save the Date" cards. Her parents agreed to pay for the wedding, but at the last minute Tori's mom told them to change the date because HER friends didn't want to drive to the beach and also had plans for the 4th of July. So she made them change the wedding date to July 3 and change the location from the beach to the Spelling mansion. When Tori and Charlie told her that his side of the family (which was middle class) had already purchased their plane tickets, Tori's mom said SHE would pay for the difference in the plane tickets. BUT, Candy Spelling told her travel agent that she would pay for $50 per ticket to change the date. It would've cost about $1,000 to change each ticket that late from July 4 to July 3. So she refused to pay. So Tori ended up paying for everyone to change their plane tickets.

So Tori's parents paid for the wedding/reception...but Tori paid for all the plane upgrades. She also paid for the brunch reception the day after the wedding 'cause the mother refused to. The mother sounds psycho (in the book).

Granted, Tori made a ton of money on 90210 and her TV movies of the week...but no one taught her how to save money. So she let a grambling boyfriend spend almost all her 90210 earnings. I think if she had learned from an early age that SHE would have to pay for her own things as an adult--and had a business manager or someone who helped her budget better, she wouldn't have ended up so surprised.

Don't get me wrong. I don't feel sorry for her. She still makes more money than the majority of people!!!

[CCL]

Originally Posted by Lois Lane

. She said she got the feeling that he didn't realize how much money he had--millions, not thousands.

I don't buy this. Aaron Spelling was a smart man, and hugely successful. Plus he lived in a mansion that had a seperate room for gift-wrapping! Maybe he didn't know how much he had down to the cent, but I'm sure he had a general idea it was in the millions, not in the thousands.

[myrosiedog]

Personally I applaud Sting and Bill Gates and Warren Buffett. Too often people that aren't rich totally indulge their kids and the kids then don't know how to make it on their own and I've seen it happen with just upper middle class people.

Personally if it was me, I would make sure that they all had a college education, house, a car and a nice nest egg to set them up to make it on their own.

I applaud people like the above for being able to donate it to charity and not let their families waste it.

I never expected any inheritance from my parents or my husbands parents. We did get family items and furniture, but no money. My parents were able to help us out before they died which was nice. But even if I had the kind of money that we've been talking about, I would have set up trusts for my kids and made arrangements for charity.

An inheritance is a gift, its not an expectation. Or it shouldn't be.