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This doesn't mean that the parents get the other 85%. All the income belongs to the child, the 15% figure is put in a trust as a requirement by California law a
by hughes 8y ago
This doesn't mean that the parents get the other 85%. All the income belongs to the child, the 15% figure is put in a trust as a requirement by California law and cannot be accessed until the child turns 18.
- gowld 8y agoThe article doesn't say that more than 15% is put in trust, or that the child is spending $XXX,000 on himself. Of course, the child also isn't generating the whole business himself either.
- lunchables 8y agoAre you sure? Seems like the parents are really the "producers" and the kid is more of an actor. He very well might get a lot of that money, but I'm not sure. And I'm not saying it's a bad thing. Is there any reason to give an 8 year old child access to (his) millions of dollars?