Marie Osmond is not budging on her plan to leave her children out of her inheritance.
The former country singer, 63, has revealed plans to donate her fortune to charity instead of leaving it to her seven children.
“Honestly, why would you allow your child to not try to be something? I don’t know anyone who becomes something if they are just given money,” Osmond said. We Weekly. “To me, the greatest gift you can give your child is the passion to find out who they are inside and to work. I mean, I’ve done so much designing dolls and so much more I like to try and I want to try everything I am a finisher.
Osmond, who rose to prominence as a member of the famous Osmond family at a young age, is a mother of eight children: Stephen, 39, Rachael, 31, Jessica, 35, Brandon, 26, Brianna, 24 , Matthew, 23, and Abigail. , 18. In 2010, her 18-year-old son, Michael, committed suicide.
The singer strongly believes that leaving wealth can discourage the younger generation from working hard.
“It’s one of my rules with my kids. If you start it, you finish it, you never have to do it again, but you have to finish it. And, I just think a legacy doesn’t make than breed laziness and entitlement. I’ve worked hard and I’m going to spend it all and have fun with my husband,” shared Osmond, who remarried ex-husband Stephen Craig in 2011, over 25 years after their divorce.
Osmond revealed his financial plans for the first time in 2020 during a segment on The speech in which the hosts discussed Kirk Douglas, who died in February of the same year at the age of 103. The movie star left most of his multi-million dollar fortune to charity.
“I don’t leave money for my kids,” Osmond told his co-hosts. “Congratulations, kids. My husband and I have decided that…I think you’re doing your kids a huge disservice by just giving them a fortune because you’re taking away the most important gift you can give your kids, and that’s the ability to work.
Osmond added that children from wealthy families “often don’t know what to do” and “get into trouble.” “Let them be proud of what they do, and I’m going to donate mine to my charity,” she added.
Despite her declarations, Osmond explained that she has no problem helping her children financially throughout their lives, whether it is to buy a house or a car.
Encouraging her children to find financial success on their own is an important lesson for Osmond, who has previously explained that she has found tremendous value throughout her six-decade career in the entertainment industry.
“I’ve been so lucky to see my job as a job and my life as a life,” she told Yahoo Life in January 2022. “I think that’s where a lot of people get lost in show business. Maybe their self-esteem is invested only in their work. But I love life and I don’t need to be on stage to be happy. I can still be happy.
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