Marie Osmond does not deviate from her plan to leave her children out of her inheritance.
The former country singer, 63, opened up about plans to donate her wealth to charity rather than bequeath it to her seven children.
“Honestly, why empower your child to not try to be something? I don’t know anyone who becomes something if all they get is money,” Osmond shared. Us weekly. “For me, the greatest gift you can give your child is a passion to find out who they are inside and to work. I mean I’ve done so many things from designing dolls and so much more. I like to try and I want to try everything. I am a finisher.”
Osmond, who rose to fame at a young age as a member of the famous Osmond family, is the 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 firmly believes that leaving wealth behind can discourage the younger generation from hard work.
“That’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 only leads to laziness and entitlement. I worked hard and I’m going to spend it all and have fun with my husband,” Osmond, who remarried ex-husband Stephen Craig in 2011, more than 25 years after their divorce.
Osmond first revealed her financial plans in 2020 during a segment on The conversation in which the hosts were discussing Kirk Douglas, who died in February of that year at the age of 103. The movie star left most of his multi-million dollar fortune to charity.
“I don’t leave any money to my kids,” Osmond explained to her co-hosts. “Congratulations, kids. My husband and I have decided that… I think you are doing your children a great disservice by just giving them a fortune because you are taking away the most important gift you can give your children which is the ability to work .
Osmond added that children from wealthy families often “don’t know what to do” and “get into trouble.”
Despite her statements, Osmond explained that she has no problem helping her children financially during their lifetime, whether it be buying a house or a car.
Encouraging her kids to achieve financial success on their own is an important lesson for Osmond, who previously explained that she’s found tremendous value throughout her six-decade career in the entertainment industry.
“I’m very blessed to see my work as work and my life as life,” she told Yahoo Life in January 2022. “I think a lot of people in show business get lost there. Maybe their self-worth is invested only in their work. But I love life and I don’t have to be on stage to be happy. I can always be happy.”
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