The 60-year-old performer appeared on “The Talk” recently, where she explained that leaving her kids a fortune would be a “great disservice” to them, and that they need to make their own money.
“I’m not leaving any money to my children. Congratulations, kids,” Osmond said, adding, “My husband and I decided that 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.”
She continued: “You see it a lot in rich families where the kids don’t know what to do so they get in trouble, so I just let them be proud of what they make and I’m going to give mine to my charity.”
Co-host Sheryl Underwood didn’t agree with Osmond, saying that she thinks people born into money understand money better than those who don’t have any.
“When you come from a family of money, you raise your children to value money and to understand money, and because they were born into the family, they should have a healthy respect for money,” she said, adding, “I would love to have some type of money left for me from somebody else so I can have a leg up. I think when wealthy people say, ‘I’m not leaving my kids anything,’ well, they’ve been living this great life.'”
Osmond children are Craig, 36, Jessica, 32, Rachael, 30, Brandon, 23, Brianna, 22, Matthew 21, and Abigail, 17. Her son Michael died at 18 in 2010.
She added that her decision had come from personal experience, saying, “I had an uncle and an aunt, her family fought over a mirror and a table when they passed away. My mother said, ‘That will never happen.'”
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