As much in the limelight as celebrities are, some of them realize that fame can be fleeting and planning for the future shouldn’t be toyed with.
In order not to get in stranded situations, some celebrities have ventured into side businesses, and some have set up trust funds for their kids to secure their futures.
However, some do not believe in the idea of trust funds and would instead give to charity. Whatever the case may be, so long as they have a plan, they would be fine.
In the meantime, here are ten celebrities who have trust funds for their kids and ten others who don’t.
Kurt Cobain (Trust Fund)
Before Kurt Cobain’s passing, he left a significant fortune for his daughter with Courtney Love – Frances Bean Cobain which she could only access when she turned 18. In 2010 when she became 18 years old, she inherited a third of his estate, valued at $450 million.
Elvis Presley (Trust Fund)
The legendary Elvis Presley, before his passing, set up a trust for his only daughter – Lisa Marie Presley. As much as the fortune was, it didn’t last long. So far, Lisa and her former manager, have been in and out of court, suing each other.
Carrie Fisher (Trust Fund)
Before Carrie Fisher died, she named her daughter – Billie Lourd as the sole heir to her estate which included not just the estate but also a life insurance policy, personal objects, intellectual property rights, a Tesla S and much more.
Michael Jackson (Trust Fund)
Despite the sudden death of the Pop king, Michael Jackson, he had already put in place significant fortunes for his three kids – Prince, Paris, and Blanket. They are entitled to a million per year till they turn 40 and can access the entire fortune if they want to.
David Bowie (Trust Fund)
David Bowie left half of his fortune for his two kids- Alexandria Zahra Jones and Duncan Jones. While Duncan has accessed his inheritance, Alexandria would be waiting till she is 25 years.
Gianni Versace (Trust Fund)
Generations later and Allegra Versace is still earning so much as the heiress of her uncle- Gianni Versace’s share of the company. She was named the heiress when she was only 11 years old.
Kanye West (Trust Fund)
We might not be too sure if the Rapper and businessman – Kanye West has set up a trust for his other kids, but when North was the only one, he set up one for her worth $10 million, which she can’t access until she is 21.
Robin Williams (Trust Fund)
In 2009, Robin Williams set up a three-installment trust for his three kids – Zelda, Zachary, and Cody. The clause to the first required that they be 21 years of age, which they already are since his passing.
Salma Hayek (Trust Fund)
Salma Hayek’s daughter with billionaire Francois- Henri Pinault – Valentina, might not have a trust fund in the actual sense, but she has a house in her name which is valued at $12 million.
Elton John (No Trust Fund)
As for the music legend – Elton John, who has two sons with his partner David Furnish, he doesn’t necessarily believe in trust funds and would instead teach them to value and earn money. That doesn’t mean he wouldn’t still make sure they are secure financially.
George Lucas (No Trust Fund)
While Elton John is still on the fence about trusts, George Lucas is very confident that he would only give his fortune to the less privileged and those that are in need.
Nigella Lawson (No Trust Fund)
The celebrity chef – Nigella Lawson is also quite determined on her stand about trust fund. She believes her children would have to work hard for their money and thinks trust fund would ruin them.
Rooney Mara (No Trust Fund)
Rooney Mara might seem like she is benefitting from a trust, with how wealthy her family might be (she is the of the lineage of the Pittsburgh Steelers founder), but she has come out to say that she isn’t. in fact, she doesn’t have a trust fund.
Sting (No Trust Fund)
Like Nigella Lawson, Sting believes that leaving trust funds behind would do his children more harm than good, and he has made sure to let them know early in life. Everyone has to work for their money.
Ashton Kutcher And Mila Kunis (No Trust Fund)
With most families, one parent is usually for and the other against the trust notion, but in the case of Ashton Kutcher and Mila Kunis, trust funds are a No No.
Simon Cowell (No Trust Fund)
Another celebrity who would rather leave his fortune to charity is the TV personality – Simon Cowell. He has a son – Eric who he adores, but having a trust is not on the list for him.
Jackie Chan (No Trust Fund)
Jackie Chan and his son Jaycee Chan may have had a rough run sometime back, but they have reconciled since then. However, there wouldn’t be any trust fund in place as he trusts that his son would make his own money.
Mick Jagger (No Trust Fund)
Daughter of rock and roll icon Mick Jagger – Jade Jagger has come out to let the world know that she isn’t benefiting from any trust fund. She, however, learned work ethics from him.
Gene Simmons (No Trust Fund)
Gene Simmons is also on the list of celebrities who have refused to set up a trust fund for their kids. He has two kids – Nick and Sophie with his wife Shannon Tweed and would want that they stand on their own feet. He would have yearly allowances covered though.
Tess Daly (No Trust Fund)
Like most of the celebrity parents on the other half of this list, TV show host Tess Daly would not want her kids to turn into spoilt brats with a trust fund, even if she could afford one.