Create a budget
Get a personalized financial plan
Get in gear with Take Control Bootcamp
The children of celebrities enjoy reaping the benefits of their rich and famous parents (check out the fabulous lifestyles of Hollywood tots here), but do the same rules apply to the parents of celebrity kids?
Leighton Meester is suing her mom for abusing the money that Leighton sends to help pay for her brother’s medical expenses. The “Gossip Girl” star claims in the lawsuit that Constance Meester has been using the monthly $7,500 for cosmetic procedures instead, including Botox, hair extensions and plastic surgery on her face and stomach. Meester’s mom, who allegedly refuses to work, has justified her actions by saying that she “sacrificed her happiness” to build her daughter’s acting and singing career. This isn’t the first time that money issues have caused spats between celebrity children and their parents, though.
Unfortunately, Constance Meester is just the latest in a long line of parents freeloading off their successful kids.
Family Feud
Child star Macaulay Culkin earned more than $17 million from the Home Alone movie series and was caught in a legal battle as his parents fought for control of his fortune. The money was finally handed over to a family accountant until Culkin turned 18. (Parents can set aside money for their children until they’re responsible enough to manage it on their own. Find out how to open a trust fund or a custodial savings account for your child.)
Parents have also used their celebrity children as fodder for tell-all novels. Nancy Aniston wrote a memoir titled From Mother and Daughter to Friends, which exposed intimate details about her daughter Jennifer Aniston’s life. The memoir led to a nine-year estrangement between the two. Katy Perry’s evangelist mom reportedly also has a book in the works criticizing her daughter’s risqué image.
What do you think? Is it ever okay for parents to profit off their celebrity kids?
