When it comes to making sure your family is taken care of after you’re gone, there are many different options available to you. Life insurance is one of the most common ways to ensure that loved ones are financially secure after your passing, but you can also set up trusts and a will to make sure your assets are protected and go to the right people in the end. While it may seem like a difficult task, it can be quite simple with the [right tools][1]. Imagine being able to take photos of what you own and linking them to who gets what in a streamlined interface. What about setting up a free will and trust that’s good in 47 states all from your phone? Believe us when we say, the possibilities are endless and [Tomorrow][2] can make it happen. [1]: https://smart.link/5a02133385b8c [2]: https://smart.link/5a02133385b8cHowever, what about those who don’t wish to leave their family anything? Well, you can designate that as well. In fact, there are plenty of people who have no interest in leaving their children an inheritance and surprisingly many of these stingy parents happen to be celebrities!
Gordon Ramsay is known for his take-no-prisoners personality on “Hell’s Kitchen” and when it comes to his children and finances, the apple doesn’t fall far from the tree. Recently, Ramsay revealed that his four children and wife Tana will not receive most of his fortune after his death. His reason? He doesn’t want them to be spoiled. Well, we have a feeling after a lifetime growing up with the rich and famous that ship has already sailed.
As one of the wealthiest men in the world, Warren Buffet has an extreme distaste for dynastic wealth. Sadly, this means his family won’t see a penny when it comes to his $65.1 billion. Buffet believes there are so many others in the world who struggle to make ends meet and they deserve a helping hand, much more than his family. While we’re not one to disagree with charity, we can’t help but think a small trust fund wouldn’t be too much to ask.
We hope Michael Bloomberg’s two daughters weren’t holding their breath for a big pay day when their father kicks the bucket. The former Mayor of New York has made it clear that his entire $19.5 billion will be given to charity or left to his foundation. Apparently, Bloomberg believes the best financial planning means bouncing a check to the undertaker. We have a feeling these girls won’t be too happy at the reading of the will.
Bill Gates is a huge supporter of giving away wealth; therefore, his kids are up a creek without a paddle. Although Gates is worth $78.6 billion, he has no plans to give his kids a cent because he doesn’t think it will do them any favors. Um, Mr. Gates…we beg to differ with that sentiment!
When George Lucas chose to sell the Star Wars franchise for $4.5 billion to Disney, he made it his mission that the proceeds would be designated to improving education. Therefore, his four children better be planning their own financial futures. Lucas plans to give all of his wealth to charity after his death, though we can’t imagine his children will be left completely out in the cold.
Ted Turner is the founder of CNN and TBS. Known for being worth over $2.2 billion, Turner has made it very clear that his five children shouldn’t expect much of an inheritance. In fact, Turner plans to give away most of his fortune to charity. Now, there are five children versus one dad, we think they could convince him otherwise if they united as a single front.
Apparently, movie star Jackie Chan has ZERO plans on leaving his son his fortune that he’s amassed over his successful career. Chan once stated in an interview if his son was able he could make his own money. If not, he would NOT be wasting his. Seems like a very fair philosophy, although we’re sure his son might like to review the will ASAP to make a case for some funds.
Mark Zuckerberg may have hit gold when it came to the creation of Facebook, but his daughter isn’t going to reap the rewards. Both he and his wife have pledged 99% of their Facebook shares to the Zuckerberg Foundation after their deaths. It looks like daughter Max is going to have to make her own way in the world. We’re sure with her father’s genes that won’t be a problem.
Simon Cowell is known for his harsh judging techniques on “The X-Factor” and “American Idol,” and it seems that stern point of view will transfer on to how he plans to handle his finances after death. In a recent interview, Cowell revealed he doesn’t believe in passing money from generation to generation; therefore, he plans to leave his fortune to charities and dog rescues. It seems his son Eric better find his special talent early in life.
Food Network star Nigella Lawson is known for her delicious and rich dishes, and bringing the best of Britain to the United States. Unfortunately, her kids will not be able to share in the wealth because she is making sure her kids have NO financial security whatsoever. Nigella believes that not having to earn money ruins people. Well, we wonder how her kids feel about that?
According to Elton John, having his twin boys changed his entire viewpoint on life and helped cut back in terms of his spending and extravagant lifestyle. Worth over $400 million, John doesn’t plan to leave his sons with silver spoons dangling from their mouths. While he ensures they will be well taken care of, he refuses to leave them with too much because he wants them to gain respect for money and the benefits of hard work.
Despite the fact that fashion designer Gloria Vanderbilt built her business with a large inheritance from her father’s railroad company, she has NO plans to do the same for her son, Anderson Cooper. Thankfully, Cooper doesn’t seem to want the money. He’s gone on the record that he is happy that fortune was never hanging over his head and that he rather make his own path in the world financially. We don’t think he has much to worry about since he’s such a successful anchor at CNN.
Famous composer Andrew Lloyd Webber who is best known for his work on “Phantom of the Opera” and “Evita” has made it clear his five children will have to work for a living. Most of his fortune will be left to the theater community, which he feels he owes a debt to. It’s an interesting thought process, since most would believe that the theater community owes Webber for his extreme talent.
Gene Simmons son and daughter, Nick and Sophie, are going to have to sweat it out and earn their own living it seems because papa isn’t going to be a bank. The Kiss bassist told CNBC that while his children will always be taken care of, they won’t be rich from his money. He expects them to get up and work every day. Well, that certainly sounds reasonable to us.
According to British pop sensation, Sting, his six children will have to work for a living. Despite being worth millions of dollars, Sting will not be leaving his kids with trust funds. The singer believes that trust funds are just “albatrosses around their necks.” Hopefully, the kids have some sort of back up and don’t mind asking “do you want fries with that?”
->**Planning for the Future**<- Whether you’re planning to divvy up your assets or you wish to give it all to charity, it’s important to have useful tools to guide you along the way. And you don’t have to pay expensive fees to consultants to make sure your family is secure (or left to their own devices). So what are you waiting for? Try the [Tomorrow][1] app for free. [1]: https://smart.link/5a02133385b8c
