Child actors have safeguards in place to prevent their parents from taking all of their hard-earned money. So how would you feel if you were a young Hollywood star who later learned your mom and dad stole everything from you?
This woman was a child actor from 8 to 14. Although six years of doing that seems like a short window of time, she still receives residual checks to this day, though they’re not for life-changing sums of money.
She is an adult currently living in Los Angeles, California, and not too long ago, her mom and dad let her know that she had delinquent dues attached to her SAG-AFTRA account, which is the union that represents actors.
The dues had accumulated over the last five years, and nobody informed her of any of this. She paid off the debt she owed, and then was able to get into her account.
Once inside, she could see all of the money she had earned from her days spent in the spotlight, and she was shocked by how much money it was.
“That led me to go back through old bank statements, and I realized that roughly 94% of those earnings had been spent before I ever had access to my own bank account,” she explained.
“About 15% (as per the Coogan Act) was set aside in a Coogan savings account I couldn’t touch until I turned 18, which I didn’t access until after college.”
Small side note here: the Coogan Act was put into place back in 1939, and it protects the earnings of child actors by requiring that their parents put 15% of their gross earnings into a Coogan account or a blocked trust, so that guardians and parents are prevented from spending that money.
What this means is that her mom and dad basically stole the majority of her earnings, and she has no idea how to come to terms with any of that.
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“I understand that a portion of the money likely went toward my career (acting classes, transportation to gigs and auditions, etc.), but it doesn’t seem like those expenses would come close to what was spent,” she added.
“And as I navigate supporting myself with my job, rent, and student loans, it’s frustrating to think that I could’ve felt a lot more secure if that money had been saved or invested.”
“I have a good relationship with them and don’t want to blow anything up. I’m really just looking for clarity and if it’s worth a conversation. Any advice on approaching a conversation with my parents about this topic?”
I think she should try to reach out to SAG-AFTRA to see if they have someone who can help her navigate all of this, but it’s very common for this to happen, and there are a number of child stars who have publicly called out their parents for taking their money.
If trying to get some help from SAG-AFTRA proves to be a dead end, she could just go on a fact-finding mission and tell her parents she’s only trying to understand what happened with the money if she’s worried about upsetting them.
What advice do you have for her?
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By Bre Avery Zacharski
Hi, I'm Bre, Chip Chick's CEO! I have a degree in Textile/Surface Design from The Fashion Institute of Technology, and... More about Bre Avery Zacharski
