It sounds like she’ll be able to keep up with her $1,700 handbag habits!
Suri Cruise, 6, is said to receive a “sizable” trust fund at the age of 18 as a result of the divorce settlement between her famous parents, Tom Cruise and Katie Holmes.
Reportedly, Tom will be responsible for their daughter’s expenses, such as medical and dental care and tuition to the $40,000 a year private school Avenues, where Suri is scheduled to start first grade after Labor Day.
While this might seem like enough, a source tells RadarOnline that Katie negotiated a large trust fund for Suri to access once she turns 18 years old.
“She just wanted to ensure that Suri would have financial security as she becomes an adult. It’s a sizable trust fund, but Suri won’t be able to fully legally claim it until she is in her 30s. Tom had no problem with the request and planned on doing it for Suri anyway.”
The source added: ”Katie has absolutely no access to the money and didn’t want to.”
And while Katie didn’t receive any spousal support due to their ironclad prenuptial agreement, she will be keeping “millions of dollars in jewelry, designer handbags and other gifts” given to her by Tom during the course of their marriage.
Wow, just to think these little celebrity children don’t have a clue that they are or will be set for life with having celeb parents that make so much money it’s sickening! Lucky kid! But then again, money isn’t everything, but it sure does help! LOL!
They should have made it 21 because 18 year olds don’t have much of a brain, little maturity and don’t always make good decisions.
It says in the article that she wont have full access to the money until she is 30. She will probably have access to a certain amount per year, which will increase each year until she has access to the full amount in her 30′s. Sometimes they put a clause in the trust to freeze it if the child acts irresponsibly, such as being arrested or even for not graduating from college. Depends on what the parent wants.
I read somewhere that Tom puts $5 million on her birthday each year since she was born. If this is true then Suri has more money then Katie!
Hardly surprising.
The child of a wealthy person will have a trust fund??? STOP THE PRESSES!!