Marie Osmond reveals she’s not leaving any of her fortune to her seven children when she dies
Marie Osmond has spent most of her life in the public eye as the only daughter of a show business family of nine.
And while she’s enjoyed a successful career as a singer and TV personality, she said on her daytime chat show The Talk that she won’t be leaving any of her fortune to her kids.
‘I’m not leaving any money to my children,’ Osmond, 60, said during a discussion with her four co-hosts, before adding a little humor and smile: ‘Congratulations kids.’
No inheritance: While she’s enjoyed a successful career as a singer and TV personality, Marie Osmond, 60, said on her show The Talk that she won’t be leaving any of her fortune to her kids
The Utah native thinks there are too just many pitfalls if she were to give them a large sum of cash without having to earn it.
‘I think you do a great disservice to your children to just hand them a fortune because you take away the one most important gift you can give your children, and that’s the ability to work.’
The Donny & Marie star then clarified her thought process, adding, ‘You see it a lot in rich families, where the kids, they don’t know what to do and so they get in trouble. Let them be proud of what they make and I’m going to give mine to my charity.’
Concerned: The Donny & Marie star thinks there are too just many pitfalls if she were to give her children a large sum of cash without having to earn it first
Has her reasons: ‘You see it a lot in rich families, where the kids, they don’t know what to do and so they get in trouble……I’m going to give mine to my charity,’ she explained
Co-host Sheryl Underwood disagreed with Osmond’s stance regarding inheritance.
‘I think that when you come from a family of money, you raise your children to value money and understand money and because they [were] born into the family, they should have a healthy respect for money,’ she explained.
Co-host Sharon Osbourne, who’s married to legendary rocker Ozzy Osbourne, was also not on-board with leaving her kids out of their will.
‘Everybody is different, and I just know that my husband’s body of work that he’s written and kept us all in the lifestyle that we love, goes to my children and his name and likeness goes to my children.’
She added, I don’t want somebody that never met my husband owning his name and likeness and selling T shirts everywhere.. it stays in the Osbourne family.’
The reasoning: ‘My husband and I decided, I think you do a great disservice to your children to just hand them a fortune because you take away the one most important gift you can give your children, and that’s the ability to work,’ the performer explained
Her fortune: Osmond is reported to have a net worth of about $20 million
Confessing she’s somewhere in the middle on the issue, guest host Carnie Wilson said she ‘loves the idea of teaching your children to work,’ but in the end she prefers leaving some money to her children while also instilling a work ethic.
Many fans took the comments section of The Talk’s YouTube video and expressed disappointment with Osmond’s decision.
‘Ridiculous. Bill Gates is one of thee richest ppl in the world and even he and his wife are leaving their kids 10 million each…and their billionaire,’ one person wrote.
Another viewer said, ‘Sorry marie I just lost respect for you. Yes give to your church but your children still need your support after your gone…’
Family business: The Utah native has performed with brother Donny most of her life
A third person saw some validity in Osmond’s decision.
‘I agree it’s Marie’s decision but I can’t see leaving all her money to strangers and leaving her seven kids with nothing when you have given them a certain lifestyle and then upon death say now fiend for yourselves I don’t believe Marie is that heartless.’
In all, Osmond had eight children: one biological son with husband Stephen Lyle Craig, whom she married twice and a biological son and daughter with second husband Brian Blosil. They also adopted five children during their marriage, but sadly son Michael committed suicide in 2010.
Osmond is only daughter of a show business family of nine; she’s pictured with brother Donny during their variety show hey-day in October 1978
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