Child Stars

The issue of ownership of earnings when it comes to the issue of child stars is very important. You would think many of them are worth millions but they will discover that their management teams and their parents have consumed every cent they have ever worked for. Others find their money has carefully been placed in a trust for them and they will always have it to rely on when they need it.

Is it right for the entire family to live off of the money child stars make? Some of these parents have sacrificed everything they had in order for their children to pursue their dreams. It is difficult for them to work a regular job and still get their child’s needs met. Yet when you consider most child stars are making large sums of money there should still be plenty of it left over for them.

Under the laws of California, child stars are mandated for a portion of their earning to be placed into a trust for them. This is known as the Coogan Law and was lobbied for by child star Jackie Coogan. As a child star he made millions of dollars but his parents lavishly spent most of it.

The fact that not all child actors have long careers makes it even more important for them to have some ownership of their earnings. This way they have a nice nest egg to help them pay for a good education or even a home and car later in life.

There have been plenty of legal issues involving ownership of earnings with child stars though. Country singer Leann Rimes had to take her own father to court when she was 17 years old. The claims alleged that more than $7 million that belonged to her had been allocated by her father.

Not all child stars are lucky enough to be able to get the money back though. By the time they are old enough to understand what is taking place with that money it has been spent. Many parents claim it is their right as they have worked hard to get their child to the top. Since children can’t sign the contracts on their own they have to agree to what the parents agree to though.