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Question: Where does all the money go to!?
For teen actress (like disney channel stars) where does their money go to!? Do they HAVE to put it in a savings account until they are 18!? Or do they just get it to spend on whatever!?

I'm just wondering!. My mom an I are debating lol!.Www@QuestionHome@Com


Best Answer - Chosen by Asker:
The profits go into a trust fund and smart parents get an impartial trustee!. At least 37% ( I think that is the right percentage) must go into an account saved for the child exclusively!. Many times the money will be spent by the parents on a house for them all to live in and many times the mother or both parents become managers for the child and are paid a salary!.

Taran Noah Smith (who played Mark on the 80s-90s sitcom Home Improvement which is probably still on ABC Family or TNT or somewhere) was emancipated from his parents at 17 because they were spending all of his money and were pushing him too hard to do more acting after Home Improvement ended when he wanted to have a normal life for a while!.

He also wanted to move in with his girlfriend who was twice his age but that is notwithstanding!.

Hillary Duff and lots of other Disney kids have had fights with their parents over their money!. I think Mary Kate and Ashley Olson were the smartest -- they started their own production company DualStar Entertainment and hired their parents as salaried managers!. That way they paid out a reasonable salary to their parents and they covered the family`s expenses on those salaries!. They invested the rest in their company and put out all their straight-to-video movies etc!. for a bunch of residual income!.

Now they can basically do what they want and their parents live well too!.

Anyway that is my $0!.02!.Www@QuestionHome@Com

it's your money, and your aloud to spend it, but if your underage you have to have a parent with you if you take the money out of the bank!.Www@QuestionHome@Com

I'm assuming that the parents control the money until they turn 18!.Www@QuestionHome@Com

You cannot spend your money until you are 18 years of age!.Www@QuestionHome@Com

I bet the parents spend most of it!.Www@QuestionHome@Com

the parents choose what happens to the moneyWww@QuestionHome@Com

I think they save some of the money and spend a lot of it!.!.!.!.Www@QuestionHome@Com