Marie Osmond doubles down on decision not to leave her eight children an inheritance: 'It breeds laziness'

Daily Mail ^ | 14 Jan 2023 | ASHLEIGH GRAY

[TexasFreeper2009]

wow, I had not known they recently changed that here in Texas. Thanks for that information!

[chuck allen]

Yes we also did it in Ohio. We’ve set our trust at a 5% of year end balance withdrawal rate for our kids, and strong encouragement to take that payment on a monthly basis. Won’t come close to making them rich but they should always have the bills paid.

[Steven Scharf]

She only gave birth to three children. She adopted five. The youngest is about 20.

[bankwalker]

[Arcadian Empire]

Parents should do everything that they can to help their daughters and sons prosper.

Anything less is selfishness.

[Arcadian Empire]

Your plan makes perfect sense, structuring the inheritance to ensure that it will last.

[Arcadian Empire]

There are enough hardships in the world without parents trying to make things harder for their daughters and sons.

[Arcadian Empire]

Well said.

[Arcadian Empire]

Donny is the one with talent.

[Arcadian Empire]

It sounds like you are managing things very well.

[Arcadian Empire]

The core of civilization is the motivation to make things good for your descendants.

[Arcadian Empire]

Good points.

[Arcadian Empire]

Good approach.

[MayflowerMadam]

“”Mormons don’t drink coffee. I swear there’s something to that when it comes to aging. Oh, but then I’d have to give up coffee.”

Really. I’ll gladly sacrifice five years of life for a lifetime of coffee. (Maybe I already have. Who really know?
I’ll ask God when I get There.)

[LilFarmer]

That makes a lot of sense. He seems to get the main principles of accounting and is good at math, college Algebra was easy for him. He took a class in excel, but I think this summer he should take another because it was so condensed.

[Political Junkie Too]

The Osmonds were broke after the end of The Donny and Marie Show. They expanded too fast, built a studio in Orem, UT, and had several failed albums, film productions, and TV pilots. Rather than declare bankruptcy, the family reorganized and paid off all of their debts.

I bet that experience had a lasting impact on Marie and has largely influenced her decision to not leave an inheritance to her children.

-PJ

[anton]

Excell is easy. Tell him to take a class in calculus.

[Justa]

Yes, it’s sad. Why not give them an inheritance of an IRA or even Roth IRA with dividend re-investment? They can witness the benefit of investing and compounding before they touch the money. Better than just handing them money -or nothing.

[chuck allen]

If you have an IRA that’s fairly substantial, say $400 or $500,000 and are over 70 1/2, You can place that IRA in a trust, it is then called a Trusted IRA. It will pay out to your kid on an IRS controlled schedule until the kid is aged 83. Payments get bigger every year until exhausted at 83.

[Political Junkie Too]

BTW, she has seven surviving children, her son Michael committed suicide 13 years ago at age 18.

Of the remaining seven children, two are natural and the rest are adopted.

-PJ