Tori Spelling

[hellsbells]

At this point, that seems like the smart thing to do. Tori and Randy not getting anything at all, though, seems surprising.

A lot of wealthy families set up a revocable living trust (their wealth is put into it, so they still control it, but it goes to the designated beneficiary upon their death. It's not clear to me that Candy or Aaron didn't set something up like this. You could have multiple trustees (so both Aaron and Candy could be trustees and when one dies, the other makes decisions. But upon both their deaths it will go to the beneficiaries). A generation skipping trust wouldn't limit them from leaving some assets to Randy and Tori, though, and I wouldn't be surprised if they got something when Candy died.

I would have been surprised if Aaron and Candy didn't approach it in that way, as it's truly a way to preserve your money and make sure it goes to the proper people. But then rich Hollywood people surprise me and make stupid decisions (financial and personal) all the time!

[cancan]

Nov 1, 2021 9:23:04 GMT -4 Ginger said:

Jun 9, 2007 10:03:44 GMT -4 hellsbells said:

It always confuses me when people say that Aaron cut the kids out of his will. Usually marital property is joint property and it will stay with your spouse upon death.

True, but I think that's where rich kids having money set aside for them in trust funds would normally come into play, and the Spellings didn't do that. They made it into this messed up situation where cashing in was tied to Aaron's death.

Candy has set up trust funds for each of her grandchildren, though.

Counterpoint: Tori has been a working actress for more than 30 years. Her father may well have thought that she was already set with 90210 residuals (at least enough to have a comfortable life, like Jason Priestley, BAG, Shannen, etc.) and been confident that Candy would take care of her as necessary. She didn't *need* a trust fund.

[lae]

Nov 2, 2021 9:42:30 GMT -4 cancan said:

Nov 1, 2021 9:23:04 GMT -4 Ginger said:

True, but I think that's where rich kids having money set aside for them in trust funds would normally come into play, and the Spellings didn't do that. They made it into this messed up situation where cashing in was tied to Aaron's death.

Candy has set up trust funds for each of her grandchildren, though.

Counterpoint: Tori has been a working actress for more than 30 years. Her father may well have thought that she was already set with 90210 residuals (at least enough to have a comfortable life, like Jason Priestley, BAG, Shannen, etc.) and been confident that Candy would take care of her as necessary. She didn't *need* a trust fund.

I think this may have been his mindset.

I think this is also what is difficult for me to fully grasp about the whole situation. Tori Spelling should really be fine with the inheritance she got. She actually worked. She starred in a successful television show for years, she has a lot guest appearances, she is a known person who can make money on appearances and social media, she has several reality shows and they were fairly charming at first, I think she had an HSN gig at one point, she actually has hustle. Her work combined with what Aaron left her should have her living the good life. She’s just not going to be able to have an obscene McMansion with a room devoted to wrapping paper. She could have hired a money manager and listened to their advice and actually budgeted to be wealthy, just not Kardashian/Jenner rich. I’m sure she was never taught self control with money growing up but at some point you would think she would get it together and live within her means. It seems almost pathological at this point. Like she just can’t actually stop spending. I remember her constantly moving from big house to big house and buying so much stuff on her shows. It was like OMG what are you doing?!

[Ginger]

Randy only got $800k too and he didn't have much of a career, but I guess the parents had to treat them the same.

Candy has said that Tori's reckless spending is why she got a limited inheritance. Candy said she saw how Tori would close down a clothing boutique and leave with $60k worth of clothes - and Candy claims that this was not behavior Tori picked up from her. I have no doubt if Tori had gotten a huge inheritance, she would have blown through that and would still be broke now.

I mean, she's broke and going through a divorce and still planning to build a big pen in her yard. Once she builds the pig pen, buys pigs, buys pig equipment, buys pig food, and buys matching costumes for the pigs, she's going to realize how much work it is to raise pigs and will wind up paying a lot of money to someone to take the whole operation off of her hands. Money down the drain. It's the story of her life.

[divasahm]

Nov 2, 2021 12:41:28 GMT -4 Ginger said:

Candy has said that Tori's reckless spending is why she got a limited inheritance. Candy said she saw how Tori would close down a clothing boutique and leave with $60k worth of clothes - and Candy claims that this was not behavior Tori picked up from her. I have no doubt if Tori had gotten a huge inheritance, she would have blown through that and would still be broke now.

I mean, she's broke and going through a divorce and still planning to build a big pen in her yard. Once she builds the pig pen, buys pigs, buys pig equipment, buys pig food, and buys matching costumes for the pigs, she's going to realize how much work it is to raise pigs and will wind up paying a lot of money to someone to take the whole operation off of her hands. Money down the drain. It's the story of her life.

This. We've seen no evidence that Tori has any idea of how to restrain herself when it comes to spending money, and I'm certain her parents wrote their wills with that consideration in mind.

[lae]

Nov 2, 2021 12:41:28 GMT -4 Ginger said:

Randy only got $800k too and he didn't have much of a career, but I guess the parents had to treat them the same.

Candy has said that Tori's reckless spending is why she got a limited inheritance. Candy said she saw how Tori would close down a clothing boutique and leave with $60k worth of clothes - and Candy claims that this was not behavior Tori picked up from her. I have no doubt if Tori had gotten a huge inheritance, she would have blown through that and would still be broke now.

I mean, she's broke and going through a divorce and still planning to build a big pen in her yard. Once she builds the pig pen, buys pigs, buys pig equipment, buys pig food, and buys matching costumes for the pigs, she's going to realize how much work it is to raise pigs and will wind up paying a lot of money to someone to take the whole operation off of her hands. Money down the drain. It's the story of her life.

Yep. Honestly, even if Aaron had left her $100 million, she would have been blown through it all. It may have taken a little longer to do but I think she would have still burned through it by now. It’s crazy to think about but it happens.

[Beyle]

800K would be way more than enough for me to pay off student loan debt (college and grad school), and still have plenty leftover to invest and do whatever with.

SMDH.

[celerydunk]

Nov 2, 2021 12:41:28 GMT -4 Ginger said:

Candy has said that Tori's reckless spending is why she got a limited inheritance. Candy said she saw how Tori would close down a clothing boutique and leave with $60k worth of clothes - and Candy claims that this was not behavior Tori picked up from her. I have no doubt if Tori had gotten a huge inheritance, she would have blown through that and would still be broke now.

Tori totally learned it from Candy. She had that reality show where she showed all the crap she had in storage. She had things stores in categories and I remember all the luggage she had. She saw these Christmas soldier statues and loved them so she went to all the costco's in the area buying them out.

That show was great.

[Auroranorth]

At this point, I don't think it matters where she learned it. She's had plenty of time to do better, and has chosen not to.

[laurenj]

Nov 8, 2021 23:12:48 GMT -4 Auroranorth said:

At this point, I don't think it matters where she learned it. She's had plenty of time to do better, and has chosen not to.

Yes, once she became a parent and had money issues, she needed to get a crash course in financial matters.

If she'd continued to have unlimited funds throughout adulthood, I'd be more understanding of her financial cluelessness because it wouldn't have been something she'd have really needed to know. But all the documented debt issues she's had should have been a kick in the ass and it clearly wasn't.