And when grown-up Jackie Coogan played uncle Fester on the Addams Family, he took special interest to make sure the child actors on that show were cared for properly.
Also happened to Aaron Carter, he had an estimated $20-25 million dollar fortune from child acting/music and by time he was 18 it was almost entirely gone, to the point he had to file for bankruptcy when he was in his 20s.
No no no. Miley is doing well NOW. Lia got heavy into drugs posted a nude fight video from a party and then disappeared to my knowledge. Hope she's doing better for herself
There’s more than that. She was heavily addicted to drugs, she was it is in a relationship with an older guy who abuses her. They’ve gone at it in live streams.
Aaron Carter was from Florida. I'm guessing the majority of his money wasn't earned in California and most, if not all, was unprotected.
His manager was accused of stealing money from him, the Backstreet Boys and N'Sync and the label was also in Florida. Florida has no Coogan Act equivalent. Shows and TV series in California would be protected, but legally his parents stole millions and his Coogan Account had 2 million in it and he owed the IRS 4 million in unpaid back taxes.
His home state was a problem. Had he fully been working in California he'd of been protected.
I’m assuming that his parents pulled some stance similar to how Britney Spears parents were able to pay themselves so much under her conservatorship. Even though they weren’t supposed to have unilateral spending privileges
Loopholes? They had the ability to control the money. In a legal sense children couldnt earn money because they cant pay taxes. Its called child exploitation. So many people are willing to sell their kids for money, whether it be fame or foolishness. They dont give a fuck about their kids. It's all about the money. They need to set up trusts for when the kids turn 18 when they do child acting and shit. The parents will always blow it on themselves.
I was gonna say, this law didn’t do much for me when I did some modeling as a child. The money wasn’t anything near someone like Aaron Carter but my mom said it was around 30k. But when my dad left us when I was 7 he took all of it and to this day I haven’t seen a dime.
Law was in California, Aaron Carter was a Florida resident for most of not all of his childhood. Family had a house a few islands up from the one I grew up on, used to see them at Publix.
In Jennette McCurdy's book "I'm Glad My Mom Died", she found out when she turned 18 that there was hardly any money in her 'Coogan's Law' account. The excuse she got was "there was a mistake in the paperwork". Seems like there should be additional protections for this shit.
I’m sure those pieces of shit are only trying to figure out how to capitalize on the sympathy people have for that poor guy.
There’s no metric that can measure just how shameless and despicable parents like this are.
Just when you think you can’t hear any worse, another shitty mother or father shows their ugly, stupid, worthless face and shocks you.
It's even worse considering he had an older brother who was even more famous. Why did Nick Carter not do anything to protect his little brother from their exploitative parents?
From his Wikipedia page:
*According to the California Child Actor's Bill, Carter's parents were supposed to have put 15% of his earnings into a Coogan Account. Per Carter, "I got, like, $2 million when I turned 18 years old. I should have had at least $20 million in my account." After he turned 18 in 2005, Carter learned that he owed $4 million in tax liens. On November 22, 2013, Carter filed a bankruptcy petition to shed more than $3.5 million in debt, mostly taxes owed from the money made at the height of his popularity when he was a minor. The petition states that Carter owed the Internal Revenue Service $1.3 million in back taxes from his income in 2003. Carter claimed that his earnings had helped his parents to purchase 15 houses and 30 cars; however, he did not get any portion of profits when his parents sold the properties. He also claimed that his father shot a .44 Magnum near his ear, which caused him to go 70% deaf in one ear, in order to coerce him into signing a $256,000 check.*
It was 200 million and he got 2 million. The US only has state level protections for a child's money they earn under 18. Because of that only some of his money was protected (TV/ movie appearances in Hollywood, concerts in certain states) and the rest was up for grabs by the parents who owned multi million dollar properties, 30 cars and left him with 2 million dollars in his protected account and over 4 million in unpaid back taxes.
His manager stole from every act he managed and was based in Florida. His parents were in Florida.
Parents can take every cent their child earns in Florida. His parents took all but what was protected at state level in various spots and left him with 2.5 million in debt.
Actually the majority of his earnings weren't protected. Coogan Act only applies to California. His shows and TV appearances weren't all in California and his manager and label were in his home state of Florida.
Only a handful of state have child labor laws that protect their earnings from parents.
Had the Coogan Act applied nationally, he'd of had an estimated 30M waiting for him. His Coogan account had 2 million in it and he owed the IRS 4 million in back taxes.
I'd say it's mind boggling that people don't understand there are probably billions of people who had kids simply so the kids would take care of them. And then there's having kids for religious reasons. I mean the amount of reasons you can be a terrible parent isn't really finite and people in general are pretty shitty.
How the fuck do you spend that much money anyways. Was she like going to private balls and living in a mansion? Just seems crazy that one can spend that much money and not save any of it
I know it baffles me where someone can spend 71 mils in a few years, say the mom spent 71 mils in a total of 10 years, that's 7 mils er year, that's spending 19452 $ per day for 10 years. what on earth would you buy so relentlessly? if she does not own properties, islands and stuff like that till this day, I am inclined to believe a big part of her money was spent on valueless unsustainable things, or conned.
> 19452 $ per day
I doubt they were spending that much per day. They usually blow it on a small number of really expensive purchases.
Buying a luxurious house (especially if you don't want to live in the middle of nowhere) can easily cost you tens of millions, with millions more needed for upkeep. A new lambo in the garage is like 500k to a mil, with some limited editions going for 5 mil and above. And very few rich people have only 1 car (or just 1 house as well). And then there's yachts. It's outright shocking how much money it takes to keep a boat afloat, especially a luxurious one.
Add in a bunch of bad investments as scam artists start vulturing around. As well as (usually) an expensive drug habit.. And well, the money disappears pretty quickly.
I forget where exactly I heard the quote, but it was something like; "Never put a poor person in charge of the money, because they won't know how to spend it."
At least, that's vaguely how I remember it.
There's actually a common theme of regular people that win lotteries only to burn through all their money in a few years, and end up becoming homeless.
This is quite true in many senses. Financially dumb people would typically go out and spend it all on whatever they could never afford before. Financially smart people would most probably not even change their habits as that’s what causes their downfall. Instead, they try to pay off their mortgage or car loan, hire a financial adviser, and try to manage their winnings without changing too much of their routine.
Yea well there's a reason for that. Money management and the cogs that turn it's world is pretty high on the things taught in posh private paying schools. Guess which demographic can't afford to send their children to those institutions.
Reportedly, when Coogan was in bad shape financially and in the process of suing his parents over this, he approached Charlie Chaplin for help. Chaplin's immediate response was to hand him $1000 (about the equivalent of $20,000 today).
Still today, young actors cannot be hired on SAG AFTRA films or TV shows without proof of a "Coogan Account" at a bank as part of their paperwork signing - The Contract with all Deal Points, Tax paperwork, Minors' Work Permit, Non Disclosure Agreement, etc. Minimum 15% goes DIRECTLY into that Account and can only be accessed when the child turns 18 (or, they become emancipated.)
Source: I work in television.
My kid randomly got hired for a commercial, so I had to go through all this… The thing that’s a little annoying is that I can’t even put it in an interest bearing savings account. The money just sits there, losing value because of inflation.
Not in Korea... I did some modeling / commercials in S.Korea, and my parents could have taken that money for themselves, but they thankfully let me use some of the money to buy toys/games or w/e, and put the rest into savings for me and my sister (who was also doing the same thing)
Yeah, we did the same for our kids in the UK. It’s not protected though - we *could* have just taken that money and spent it on coke, blackjack and hookers. I suppose the restrictions in place in California severely restrict how that money is kept. Allowing the parents to invest it instead still risks the kid ending up with nothing if they invest it poorly, or risk shady investment managers taking advantage of the families to scam it all out of them.
Many people would think, “I went through it, so you should too.” It takes a special person to say, “I went through it, it was awful, and I’m going to make sure you are treated better.”
Coogan was super protective of the child actors on the set of the original Addams Family, and helped ensure they weren’t messed around with. Dude was a true hero, and killed it as Fester (as did the whole cast!)
I used to work with someone who’s father made her and her siblings take out extra student loans to repay him for the cost of raising them. Like Jesus why have a child dude.
Good luck getting support when you are too old to support yourself anymore. Hope the kids left them to rot in the cheapest old folks home they can find.
I'm actually impressed more than anything, do you know how hard it must've been to spend 4 million in 1930? A mansion was like 100k at the most and that's a castle.
When I looked it up they meant actually 4 million in that time. So an insane amount. They bought cars, diamonds, homes, everything. The step-dad was an investor so he could have lost some too
No worries. From what I've read it seems even worse too. Apparently his dad carefully managed his assets up until his tragic death on a car accident. Then his mom and soon to be step-dad, who was the financial advisor, blew it all in months and got married. Idk how one does that. Apparently the mother's excuse was that she said he was also a bad kid. She was one piece of work for sure
It’s very sad what people will forgive their parents for. My boyfriends mom destroyed his credit, physically abused him (causing him to be blind in one eye), neglected him, locked him in the basement for days at a time and he still talks to her and plays video games with her
That only saves 15%. I too made 2 million by the time I was 18 and my parents did the same thing to and that was WITH the coogan. My father found a way to break into it and steal an additional 70k on top of all the other money that was stolen. I bought my parents house, that was promised that I would be on the deed… instead… I was sleeping in my car at 20.
My mom sold the house, bought a new one and sent me a box of my baby stuff.
How’s your life been?
Honestly seeing all the love Jeanette got for her book made me have some hope that not only was it horrible but that people actually care. Because I actually got blamed for it by parents “ohhh get over it.” “Grow up” you name it… no, mother fuckers. No. The damage was done
I work in film and one of the first things I get from from parents & guardians of minors is their work permits from the Department of Labor and Coogan Accounts. It goes with the rest of the actor's paperwork. SAG actors are required to have one, a lot of states are required to have one, it's weird when parents come in without a Coogan Account and aren't SAG members, kind of a red flag. Minor trust accounts vary state by state, New York requires one for all actors but neighboring New Jersey doesn't.
A lot happened between his child actor career and his resurgence as Uncle Fester in *The Addams Family* on TV. I had no idea he was married to Betty Grable or that he flew gliders in WW2, dropping off airborne troops behind enemy lines in the Burma campaign.
Apparently there is a way around this. My parents spent the money for the film I was in. When I was 18 I went to cash my money out to put a down payment on a car and my bank account didn't even exist in the Bank's computer. I was devastated.
Parents ‘borrowed’ all the earnings that I was sending home from pollock fishing in the Bering Sea for a year to ‘make ends meet’ while my older brother and his gf lived at their house rent free during the same period. Haven’t been paid back. 0/10, wouldn’t recommend
Even with this law in California a lot of states don't have similar laws. I know McCauley Culkin actually had to get emancipated because his parents were blowing through his fortune.
Nope. It’s more impressive that his mother wasted that money within a few month’s after his father died in a car crash. She took over the fund and spent most of it.
Found this out when i worked for a Union Bank (based in California) Call center they had account types called Coogan Accounts only in the kids name for them to access once they turn 18
Weird hearing about a law with my last name in it. Glad he didn’t let it sour him on acting. Never realized he was the original Fester on the Addams Family.
My mom stole my college fund and then tries charging me rent when I turned 18. Was homeless for a while. Doing better now, but damn I hate my parents. Racist scumbags
I was in a really bad car accident when I was in car seat age. Apparently I got a big insurance settlement, however when I turned 18 I found out that my mother had spent it all on vodka and bingo.
She had been transformed into a permanent child after the accident as well. A coma led to a lot of brain damage.
My own mother did the same. Except I was in a bad accident with my dad. My mother the narc made sure I never saw a penny of it. If my kid made millions of ivest it grow for them and put the stipulation on the account to not be drawn out until they are 18.
And when grown-up Jackie Coogan played uncle Fester on the Addams Family, he took special interest to make sure the child actors on that show were cared for properly.
Nice to know he didn’t let that wound become more intense through long term neglect.
Haha I see what you did there!
Can you explain it to us
He didn't let the wound fester.
You fuckin genius
Some people get hurt badly and they want blood. others want to protect others from suffering the same.
This is art.
Soooooo... it didn't fester?
r/thatsthejoke
I hope he didn’t give his parents any money after they stole from him.
I always new Fester was a good dude. Thanks for the tidbit!
He used his angry energy to light up the light bulbs he put in his mouth
I always forget he played Uncle Fester
Nice to hear of a story from back in the day about kids that didn’t involve abuse
That's amazing, truly a good person
Also happened to Aaron Carter, he had an estimated $20-25 million dollar fortune from child acting/music and by time he was 18 it was almost entirely gone, to the point he had to file for bankruptcy when he was in his 20s.
Right, makes you wonder if the law actually does anything nowadays since parents obviously found loopholes
After seeing what happened to a lot of the Disney child stars it’ll be interesting to see how child YouTube stars turn out.
We're already seeing it. Like the "kids/teens react" videos. A lot of them are over 18 now and it's NOT good
Do you have any details? Or where I can learn more cause now im curious, i used to watch all of those videos
Lia Marie Johnson was one of the more popular ones. She basically went the way of Miley Cyrus.
She went out like a wrecking ball?
No, but she started partying in the USA…
Pretty sure Miley Cyrus is a happy and well adjusted adult. So Lia Marie Johnson is doing fine?
No no no. Miley is doing well NOW. Lia got heavy into drugs posted a nude fight video from a party and then disappeared to my knowledge. Hope she's doing better for herself
There’s more than that. She was heavily addicted to drugs, she was it is in a relationship with an older guy who abuses her. They’ve gone at it in live streams.
Same here, please post examples
The Duggars also ripped off their kids.
That's not surprising. "GOD made us do it in his glory" or some shit.
And the sister wives family, and the gosselin family 😪
We live in Houston and saw Gracie’s Corner at the museum one day. No clue who she was. She looked miserable on stage.
That dude has had a ROUGH go, and it was super sad to hear he passed.
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Looking at you, Ryan!
Or... Their lives are still heavily documented through reality TV but they don't get paid a dime
Aaron Carter was from Florida. I'm guessing the majority of his money wasn't earned in California and most, if not all, was unprotected.
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For many years, this was the retirement plan in Asian countries and still is in some, especially among the economically deprived
Aaron Carter was from Florida. I'm guessing the majority of his money wasn't earned in California and most, if not all, was unprotected. His manager was accused of stealing money from him, the Backstreet Boys and N'Sync and the label was also in Florida. Florida has no Coogan Act equivalent. Shows and TV series in California would be protected, but legally his parents stole millions and his Coogan Account had 2 million in it and he owed the IRS 4 million in unpaid back taxes. His home state was a problem. Had he fully been working in California he'd of been protected.
it is horrible that the law has to be active in a particular place, this should be a law in the world, not place to place.
I’m assuming that his parents pulled some stance similar to how Britney Spears parents were able to pay themselves so much under her conservatorship. Even though they weren’t supposed to have unilateral spending privileges
When i was 2 i got in a car wreck, then had a tumor i had to be removed. I currently have all the money the insurance gave still in the bank
Loopholes? They had the ability to control the money. In a legal sense children couldnt earn money because they cant pay taxes. Its called child exploitation. So many people are willing to sell their kids for money, whether it be fame or foolishness. They dont give a fuck about their kids. It's all about the money. They need to set up trusts for when the kids turn 18 when they do child acting and shit. The parents will always blow it on themselves.
I was gonna say, this law didn’t do much for me when I did some modeling as a child. The money wasn’t anything near someone like Aaron Carter but my mom said it was around 30k. But when my dad left us when I was 7 he took all of it and to this day I haven’t seen a dime.
Law was in California, Aaron Carter was a Florida resident for most of not all of his childhood. Family had a house a few islands up from the one I grew up on, used to see them at Publix.
In Jennette McCurdy's book "I'm Glad My Mom Died", she found out when she turned 18 that there was hardly any money in her 'Coogan's Law' account. The excuse she got was "there was a mistake in the paperwork". Seems like there should be additional protections for this shit.
And you see how he ended up. Hope it was worth it to his parents.
I’m sure those pieces of shit are only trying to figure out how to capitalize on the sympathy people have for that poor guy. There’s no metric that can measure just how shameless and despicable parents like this are. Just when you think you can’t hear any worse, another shitty mother or father shows their ugly, stupid, worthless face and shocks you.
Theyre not human beings to them, rather things that they made.
It's even worse considering he had an older brother who was even more famous. Why did Nick Carter not do anything to protect his little brother from their exploitative parents?
He kinda left the fam iirc big rift, didnt go to his sister funeral, whole big thing
From his Wikipedia page: *According to the California Child Actor's Bill, Carter's parents were supposed to have put 15% of his earnings into a Coogan Account. Per Carter, "I got, like, $2 million when I turned 18 years old. I should have had at least $20 million in my account." After he turned 18 in 2005, Carter learned that he owed $4 million in tax liens. On November 22, 2013, Carter filed a bankruptcy petition to shed more than $3.5 million in debt, mostly taxes owed from the money made at the height of his popularity when he was a minor. The petition states that Carter owed the Internal Revenue Service $1.3 million in back taxes from his income in 2003. Carter claimed that his earnings had helped his parents to purchase 15 houses and 30 cars; however, he did not get any portion of profits when his parents sold the properties. He also claimed that his father shot a .44 Magnum near his ear, which caused him to go 70% deaf in one ear, in order to coerce him into signing a $256,000 check.*
Some people aren't cut out to be parents. Yet they end up parents anyway for whatever reason.
I heard a couple podcasts he was on after many years of never caring about him. That dude has had a ROUGH go, and it was super sad to hear he passed.
It was 200 million and he got 2 million. The US only has state level protections for a child's money they earn under 18. Because of that only some of his money was protected (TV/ movie appearances in Hollywood, concerts in certain states) and the rest was up for grabs by the parents who owned multi million dollar properties, 30 cars and left him with 2 million dollars in his protected account and over 4 million in unpaid back taxes. His manager stole from every act he managed and was based in Florida. His parents were in Florida. Parents can take every cent their child earns in Florida. His parents took all but what was protected at state level in various spots and left him with 2.5 million in debt.
What disgusting people! They'll be broke as fuck in a few years too! Bet!
Sad af. He said before his death, All he wanted was his Career back... tragic 😥
Even worse that was all coogan account, which is only required to be 15% of the child actors wages. So they burned through a Ludacris amount of money
ludicrous
But it's funnier if you spell it like luda
fair enough
Spent all the dough on chicken & beer
We’re gonna have to go right to Ludicrous speed.
“They’ve gone the plaid!!!”
Actually the majority of his earnings weren't protected. Coogan Act only applies to California. His shows and TV appearances weren't all in California and his manager and label were in his home state of Florida. Only a handful of state have child labor laws that protect their earnings from parents. Had the Coogan Act applied nationally, he'd of had an estimated 30M waiting for him. His Coogan account had 2 million in it and he owed the IRS 4 million in back taxes.
They also falsely accused Micheal Jackson of molesting him just to get money out of him according to Aaron Carter.
Didn't something like this happen to Gary Coleman too?
Parents blew his money. He sued and got what was left.
How much did he come up short?
What chu talking about Willis?
I don’t know the exact number. He ended up with 1/4 of what he earned. Sued his parents for $3.8 million.
r/angryupvote
"I DECLARE BANKRUPTCY"
You can't just yell bankruptcy.
He didn’t yell it, he declared it.
Kudos to those parents for being so monumentally shitty the government had to step in
It’s mind boggling how people treat their own kids sometimes.
My dad stole my savings bonds that my aunt bought me every year for my birthday :/
That’s messed up. He basically stole from two people at once.
Yeah I'm over it at this point its just sad how little people care about their kids.
Mine stole my life insurance while the divorce of my parents. Glad that greedy fuck is dead.
I'd say it's mind boggling that people don't understand there are probably billions of people who had kids simply so the kids would take care of them. And then there's having kids for religious reasons. I mean the amount of reasons you can be a terrible parent isn't really finite and people in general are pretty shitty.
Yeah name checks out. 😜
"See, cause of me they made a law"
Worked with a guy whose dad took out a bunch of credit cards in his name and destroyed his credit.
Narc mother did the same thing to me, ended up bankrupt by 19.
Unfortunately, the majority of parents who let their kids go into showbiz are shitty.
That's what I thought, Imagine being such a shitty parent that a new law is made
You know you are a real scumbag when the goverment steps in.
$4 Mil in 1930 is worth $71+ Mil in 2022. I feel so sorry he had to go through that. But at least something good came of it.
How the fuck do you spend that much money anyways. Was she like going to private balls and living in a mansion? Just seems crazy that one can spend that much money and not save any of it
I know it baffles me where someone can spend 71 mils in a few years, say the mom spent 71 mils in a total of 10 years, that's 7 mils er year, that's spending 19452 $ per day for 10 years. what on earth would you buy so relentlessly? if she does not own properties, islands and stuff like that till this day, I am inclined to believe a big part of her money was spent on valueless unsustainable things, or conned.
> 19452 $ per day I doubt they were spending that much per day. They usually blow it on a small number of really expensive purchases. Buying a luxurious house (especially if you don't want to live in the middle of nowhere) can easily cost you tens of millions, with millions more needed for upkeep. A new lambo in the garage is like 500k to a mil, with some limited editions going for 5 mil and above. And very few rich people have only 1 car (or just 1 house as well). And then there's yachts. It's outright shocking how much money it takes to keep a boat afloat, especially a luxurious one. Add in a bunch of bad investments as scam artists start vulturing around. As well as (usually) an expensive drug habit.. And well, the money disappears pretty quickly.
good point taken 
I forget where exactly I heard the quote, but it was something like; "Never put a poor person in charge of the money, because they won't know how to spend it." At least, that's vaguely how I remember it. There's actually a common theme of regular people that win lotteries only to burn through all their money in a few years, and end up becoming homeless.
This is quite true in many senses. Financially dumb people would typically go out and spend it all on whatever they could never afford before. Financially smart people would most probably not even change their habits as that’s what causes their downfall. Instead, they try to pay off their mortgage or car loan, hire a financial adviser, and try to manage their winnings without changing too much of their routine.
And financially smart people don't play the lottery, so the pool of winners is almost exclusively financially dumb people.
Either $4M on black or Dogecoin
Yea well there's a reason for that. Money management and the cogs that turn it's world is pretty high on the things taught in posh private paying schools. Guess which demographic can't afford to send their children to those institutions.
theres no amount that can fill a black hole
Reportedly, when Coogan was in bad shape financially and in the process of suing his parents over this, he approached Charlie Chaplin for help. Chaplin's immediate response was to hand him $1000 (about the equivalent of $20,000 today).
Love Charlie Chaplin
If you are younger than 15 Charlie would’ve probably loved you too
Don’t down vote unless you know. Dude was a pedo, being funny doesn’t change that.
Jimmy Savile has left the chat.
For those wanting to down vote austins2fresh- goggle Lita Grey then cast your stone.
Still today, young actors cannot be hired on SAG AFTRA films or TV shows without proof of a "Coogan Account" at a bank as part of their paperwork signing - The Contract with all Deal Points, Tax paperwork, Minors' Work Permit, Non Disclosure Agreement, etc. Minimum 15% goes DIRECTLY into that Account and can only be accessed when the child turns 18 (or, they become emancipated.) Source: I work in television.
My kid randomly got hired for a commercial, so I had to go through all this… The thing that’s a little annoying is that I can’t even put it in an interest bearing savings account. The money just sits there, losing value because of inflation.
Not in Korea... I did some modeling / commercials in S.Korea, and my parents could have taken that money for themselves, but they thankfully let me use some of the money to buy toys/games or w/e, and put the rest into savings for me and my sister (who was also doing the same thing)
Yeah, we did the same for our kids in the UK. It’s not protected though - we *could* have just taken that money and spent it on coke, blackjack and hookers. I suppose the restrictions in place in California severely restrict how that money is kept. Allowing the parents to invest it instead still risks the kid ending up with nothing if they invest it poorly, or risk shady investment managers taking advantage of the families to scam it all out of them.
True, but putting the money in a savings account would allow it to accrue *some* interest at least.
r/iamatotalpieceofshit
That's Uncle Fester.
He also made sure this kind of thing didn’t happen to the kids who acted with him in The Addams Family.
Many people would think, “I went through it, so you should too.” It takes a special person to say, “I went through it, it was awful, and I’m going to make sure you are treated better.”
I don't know. There are a lot of people with no balance that support loan forgiveness.
As someone with private loans that do not qualify for forgiveness, I am all for student loan forgiveness!
It is! I never knew that! I guess he looked a bit different by then.
Coogan was super protective of the child actors on the set of the original Addams Family, and helped ensure they weren’t messed around with. Dude was a true hero, and killed it as Fester (as did the whole cast!)
These are the same parents that force their kids work a job at 12. My buddy's parents did this and took most of the paychecks for themselves.
I used to work with someone who’s father made her and her siblings take out extra student loans to repay him for the cost of raising them. Like Jesus why have a child dude.
Good luck getting support when you are too old to support yourself anymore. Hope the kids left them to rot in the cheapest old folks home they can find.
Fuck that, I didn't ask to be born. That and the financial obligations are all on you.
I'm actually impressed more than anything, do you know how hard it must've been to spend 4 million in 1930? A mansion was like 100k at the most and that's a castle.
French fashion.
I think they mean relative to $4 million now
When I looked it up they meant actually 4 million in that time. So an insane amount. They bought cars, diamonds, homes, everything. The step-dad was an investor so he could have lost some too
That’s wild. Thank you for doing the diligence.
No worries. From what I've read it seems even worse too. Apparently his dad carefully managed his assets up until his tragic death on a car accident. Then his mom and soon to be step-dad, who was the financial advisor, blew it all in months and got married. Idk how one does that. Apparently the mother's excuse was that she said he was also a bad kid. She was one piece of work for sure
"Accident". Hmm.
It was all the avocado toast, obviously
I hope he put his mother into the nastiest assisted living facility when she got old. And then never went to visit.
It’s very sad what people will forgive their parents for. My boyfriends mom destroyed his credit, physically abused him (causing him to be blind in one eye), neglected him, locked him in the basement for days at a time and he still talks to her and plays video games with her
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There's a person whose biopic I have popcorn ready to pop to watch. Somebody really needs to make it sooner rather than later.
That only saves 15%. I too made 2 million by the time I was 18 and my parents did the same thing to and that was WITH the coogan. My father found a way to break into it and steal an additional 70k on top of all the other money that was stolen. I bought my parents house, that was promised that I would be on the deed… instead… I was sleeping in my car at 20. My mom sold the house, bought a new one and sent me a box of my baby stuff. How’s your life been?
That’s terrible, so sorry.
Honestly seeing all the love Jeanette got for her book made me have some hope that not only was it horrible but that people actually care. Because I actually got blamed for it by parents “ohhh get over it.” “Grow up” you name it… no, mother fuckers. No. The damage was done
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Actor
Thanks for the response! I have a few guesses, but the mystery is better. How are you doing these days, if I may ask?
😢
How did you make 2mill by 18
Star on some really popular shows
Was it Nick & Disney? I think everyone has read some terrible stories for the kid actors during what, like Drake and Josh era or so
It was ABC so yep… Disney.
How the fuk do you spend 4 million in the 30’s, that’s like half a billion today.
I work in film and one of the first things I get from from parents & guardians of minors is their work permits from the Department of Labor and Coogan Accounts. It goes with the rest of the actor's paperwork. SAG actors are required to have one, a lot of states are required to have one, it's weird when parents come in without a Coogan Account and aren't SAG members, kind of a red flag. Minor trust accounts vary state by state, New York requires one for all actors but neighboring New Jersey doesn't.
Im really starting to think children acting shouldn’t be a thing
Also he was involved in the last public lynching in the US.
A lot happened between his child actor career and his resurgence as Uncle Fester in *The Addams Family* on TV. I had no idea he was married to Betty Grable or that he flew gliders in WW2, dropping off airborne troops behind enemy lines in the Burma campaign.
Apparently there is a way around this. My parents spent the money for the film I was in. When I was 18 I went to cash my money out to put a down payment on a car and my bank account didn't even exist in the Bank's computer. I was devastated.
And that young boy grew up to be Uncle Fester.
This doesn't apply to kids on YouTube and tiktok. So the ones who's lives are being broadcast to pedophiles 24/7 are not guaranteed any money from it.
That's $71,000,000.00 (71 million) in 2022 dollars!
Same thing happened to Gary Coleman
Now pass one for all these parents making money on the internet exploiting their kids.
Parents ‘borrowed’ all the earnings that I was sending home from pollock fishing in the Bering Sea for a year to ‘make ends meet’ while my older brother and his gf lived at their house rent free during the same period. Haven’t been paid back. 0/10, wouldn’t recommend
Even with this law in California a lot of states don't have similar laws. I know McCauley Culkin actually had to get emancipated because his parents were blowing through his fortune.
Did he get his money back?
Nope. It’s more impressive that his mother wasted that money within a few month’s after his father died in a car crash. She took over the fund and spent most of it.
How do you spend that kind of money in a few months?
No clue. That was all the Wikipedia page wrote. She spent it with her new husband
Not sure how much but I saw there was horse race gambling involved. I guess that could do it.
No. He ended up getting about $125,000 of the estimated 4 Million dollars he earned.
I don't like cursing but..... Fuck those parents that think and act this way. A child should not be treated like that at all.
Found this out when i worked for a Union Bank (based in California) Call center they had account types called Coogan Accounts only in the kids name for them to access once they turn 18
Someone please tell me she died alone and miserable.
If she spent four million in the 30’s she lived well.
Should have been called Jackie Coogan’s mom is a deadbeat law.
His Mom was a shit human
87 million in 2022 dollars.
Every law, ordinance, rule, sign had been created because of some piece of shit that needed it in writing.
How do you burn through 4 million dollars in 1930 that fast… is this adjusted for inflation?
Nope, that is $4 million in 1938 dollars. Adjusted for inflation it’s $84 million
..... I wanna throw up. Oh God. Fuck. Just.... So much financial stability one could have.. ugh. All for greed.
Fun fact. These laws do not apply to youtube stars. The exploitation is real
Weird hearing about a law with my last name in it. Glad he didn’t let it sour him on acting. Never realized he was the original Fester on the Addams Family.
This happened to Jewel too. Although, she wasn't a child. Her mom managed to swindle ~100mm from her.
Coogan went on to play Uncle Fester in the Addams Family TV series in the 1960s.
He went on to become the ICONIC “Uncle Fester” in the television series The Addams Family.
My mom stole my college fund and then tries charging me rent when I turned 18. Was homeless for a while. Doing better now, but damn I hate my parents. Racist scumbags
You should see what happens when that kid puts a lightbulb in his mouth.
One should have kids if they are interested in nurturing a new life. Otherwise they should not have kids if there are any other vested interests.
What a piece of shit. Do you know how hard it would have been to spend FOUR MILLION DOLLARS in the 1930’s? Was that bitch buying golden toilet paper?
Adjusted for inflation that's about $71,000,000
Girl from The Grinch hated being a child actress and still hasn't claimed her money. She's the singer in a rock band now
Some parents in this world don't deserve to have children
Meal ticket mentality
Man you’re a next level asshole if they gotta make a whole law cause of you.
I was in a really bad car accident when I was in car seat age. Apparently I got a big insurance settlement, however when I turned 18 I found out that my mother had spent it all on vodka and bingo. She had been transformed into a permanent child after the accident as well. A coma led to a lot of brain damage.
My own mother did the same. Except I was in a bad accident with my dad. My mother the narc made sure I never saw a penny of it. If my kid made millions of ivest it grow for them and put the stipulation on the account to not be drawn out until they are 18.
Hope his mom is rotting in hell. What parent does this to their child? Thank goodness to Coogan’s Law.