MiloandMax1 wrote: ↑Wed Nov 18, 2020 8:25 am
thepinkumbrella wrote: ↑Wed Nov 18, 2020 7:56 am
Idk yall, I am glad she's putting money aside for her kids. We can't prove her motivation for doing it (tax breaks) but I respect her a lot more for realizing they are earning with her. I think it would be much worse if she pocketed everything and thought nothing of their futures.
Less than a year ago though (right before a vacation) she said that she doesn't pay her kids she gives them experiences (Hawaii, Disneyland, etc). So I think a lot of her "paying" them has to do with some laws that have been talked about child workers. Which makes sense she has a lawyer.
Sorry, I'm a little late on this, but I was so curious to see what you all had to say about all of this. This is clearly a very recent development that she is only telling us about now to get pats on the back for?? I don't know, maybe she got the lawyer, account, and financial advisor recently and they told her to do it. Great job, you did the bare minimum. I have a feeling this was done this week, at least maybe that's when everything was finalized, we would have heard about it before if it was any earlier than now. Don't get me wrong, I'm very glad she is paying them because they are the reason she is making such a good living right now, but I think they should have always been getting a percentage, even when she wasn't making as much as she clearly is right now and can finally "afford" to pay them.
Also, this is my advice to Jess, as someone who inherited too much money for an 18 year old to have, don't do that to your kids. Now don't get me wrong, it's fun and makes life easy at the beginning of adulthood, but it tends to set you up for failure longterm. I'd make the age that they can access it at least 25. I hope someone on her team is smart enough to advise her on that. If not, I hope she's curious enough about what people say about her to read this.