• Tue, Jan 5 2010

Marcheline Bertrand set up trust funds for some of her grandchildren

It’s obvious that Brad Pitt and Angelina Jolie have more than enough money to be sure that their children will never want for anything. Their children won’t go hungry, will always be clothed, and will have not only basic necessities, but a lot of other comforts as well.

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However, Angelina’s mother Marcheline Bertrand wanted to do her part as well, as many grandparents are prone to do. Information was released today that Marcheline set up a trust fund with $100,000 each for Maddox, Zahara, and Shiloh. The funds will mature and be available to them by the time they reach the age of 25.

Unfortunately Marcheline passed away before she could set up equal funds for Pax, Knox, and Vivienne.

I like that the trust funds are only available to the kids when they’re 25 instead of 18 like they sometimes are. I think the Jolie-Pitt kids are being raised very well, and are especially aware of the misfortune of others despite their own riches (financial and otherwise). Still, many kids – no matter how well they’re raised – can go through a rebellious or out-of-control phase and I think sometimes people who are only 18 might not make the best choices with money in that amount. I think age 25 is good and by that time Maddox, Zahara, and Shiloh will be able to make good decisions and might do wonderful things like invest in a home of their own with some of it and use the rest for charitable donations or to fund things like medical centers or homes in third world countries.

Image: BauerGriffinOnline

(source)

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  • isacutie

    I agree, Sherry. I think Brad and Angie will raise the kids well and they’ll grow up understanding their place in the world, with their rights and privileges, as well as their responsibilities. They will most likely never want for anything, but Marcheline’s decision to leave her grandchildren something is not surprising.

  • Jamie. a.

    Hm, I just saw this on Access Hollywood too. I mean no disrespect when I ask this, but why is this in the news again? I saw this story on another site quite sometime ago.. they even had a copy of her will I believe. They had also mentioned that Angelina and James were left 1 million each.

  • just an observer

    OT – I just watched a biography on Bill Gates – it mentioned the Bill and Melinda Gates Foundation. I wonder if Brad and Angie have ever met Bill and Melinda Gates? I know the Bill and Melinda Gates Foundation made a contribution to one of Angie’s charities, but I don’t know all the details. Does anybody know more about the B&A connection, if any, to B&M?

  • http://joliepittresource.wordpress.com joliepittfanatic

    Jaime- I remember the story about the will, too. As far as I know, however, that story didn’t mention how they were going to get the money, just that she’d left that much to each of them (and apparently the will was completed before Shiloh was actually born, because the article said she was referred to in the will as “the new little precious one”. AWWWW!). I think this latest story is just explaining it further. :) It could also be that the first story had never really been confirmed.

    That being said, could someone help me out, please. I’m trying to figure out why Marcheline didn’t leave any money for Pax. Before anyone says I’m crazy, let me clarify that I’m aware she died before Pax’s adoption. However, shortly after Pax was adopted, either Angie or the adoption agency (I forget which), said that the process had actually taken close to a year to complete. Therefore, that means Marcheline was alive for a good chunk of the adoption process (as she died just months before Pax joined his new family).

    Knowing how close Angie was to her mother, I find it hard to believe that Angie didn’t tell her that she and Brad were adopting again. I wonder why Marcheline didn’t then give her lawyer (or whoever’s in charge of that stuff) intrusctions that 100,000 be left for Pax? I admit that I don’t know a thing about trust funds and how they are set up, and I’m not trying to critcize Marcheline. I’m just honestly curious why, assuming she knew about his adoption, she didn’t leave instructions for him to be left money, too.

  • JW

    joliepittfanatic, I think it may be because until the adoption process is completed, nothing is for certain. There could be a problem that would make adoption impossible, or at least prolong the process indefinitely. When Marcheline passed away, there were still months left in the adoption process and the last few months are probably the most important ones. She has no way of knowing whether or not Brad and Angie will successful get Pax in the end. Plus the time that Brad and Angie started to adopt Pax is the last few months of her life, where she is in and out of the hospital and probably in a lot of pain constantly. She may not have enough energy left to redo her finances, set up a trust fund and change her will. Even if most of the actual work will be done by other people, it can still be taxing.

    Btw, it’s nice to see that she left a final present for her grandchildren.

  • cranky

    OT but I was just thinking that like when my grandma passed away, it’ll forever be a regret of mine for new additions to the family to have never met her. I think it’s probably the same for Angie for her younger kids to have never met Marcheline.

  • http://joliepittresource.wordpress.com joliepittfanatic

    JW- That’s my guess, too. :)

  • everett

    It’s good to see Angie’s mom treated all her grand children equally. My grandma always had her favorites and everyone knew. This always creaated rip amongst the causins. Angie must’ve learned alot of good qualities from her mom.

  • everett

    Oops, correction on spelling “cousins”

  • http://hotmail(Australia) Elaine

    So nice to read Amgelina’s mum treated her grandchildren the same. We can see where Angelina got it from.

  • Marie

    I’m thinking Pax was not included because by the time the adoption was far enough along, it’s quite possible that she was too sick to think of those things…and AJ and BP probably told her not to worry about it…it’s not like they don’t have the $$ to chip in and make it even….just more important things to think about …just a guess, but it’s clearly not intentional…
    It will be exciting to watch these well rounded young people grow into global citizens…..it’s facinating to watch the way they raise their kids and the experiences these children get to be part of. and by moving them like they do, their attatchment to material things may be considerably less….as well as their courage to do whatever they want to do….bravo!!

  • Mary Ann

    What a shame that Angie’s mom died so early and never got to see how totally happy Angie is now. But like I tell my grandchildren, after Grammie is gone when ever you feel a breath of air on your neck it is me checking in and letting you know I am still with you. Angie’s mom is watching over all of them.

  • Yoco

    Marcheline will was not updated it was made in 2006, it could have been made in Jan 2006 14 months before Pax joined family.The will didn’t specifically name Shiloh it said the ‘precious one ‘according to someone on JJ, When the will was made, Shiloh wasn’t born yet .jmo

  • lyn

    i am sure angie will never get over the death of her mom. what is disturbing is that this is news, it is appalling that the public gets any knowledge of this. it is there privacy that we have no business knowing or making opinions about. shame, shame….

  • sunny

    just an observer says:

    OT – I just watched a biography on Bill Gates – it mentioned the Bill and Melinda Gates Foundation. I wonder if Brad and Angie have ever met Bill and Melinda Gates? I know the Bill and Melinda Gates Foundation made a contribution to one of Angie’s charities,
    ********
    Yes, Microsoft supported one of Angie’s cause. I don’t know if they met each other but their phylanthropic adviser Trevor Neilson was the director for the Bill & Melinda Gates Foundation. We know the family was staying at Microsoft’s co-founder Paul Allen’s French mansion when Angie was pregnant with twins. Trevor also advises top-notch people like Bill Clinton, Virgin’s Bronson , Solos etc.

  • Kati

    I think that it´s wonderful that Marcheline left the final gift to her grandchildren. But it´s also a shame that she didn´t live long enough to see her three other grandchildren:Pax, Knox and Vivienne. Maybe Angie and Brad had already told her in 2006 – even before Shiloh´s birth – that they´ll adopt their next child. So she sure was aware of Pax. But she sure was so sick that she didn´´t have energy to chamge her final will anymore. She was lucky enough to know Mad, Zee and Shi. Zee and Shi sure don´t remember their grandma Marcheline so well because they were so small when she died (Zee was 2 years old and Shi was exactly 8 months old to date) when Marcheline died. But all the JP kids will always be financially secured. Brad and Angie will most certainly raise all their kids well. They all will learn to respect other people – poor or rich – equally. They could use that money they will inherite at the age of 25 to help building schools to third world countries or to other charitable causes. God bless this family always!

  • Kati

    I love that picture of Marcheline, Angie and baby Maddox under the caption! Angie truly looks like her late mum. And what about Mad? He must have been about 1-year-old when this pic was taken and now he´s already 8! Hard to imagine how fast the time has flown! He certainly misses grandma Marcheline a lot. After all he was already 5 years old when she passed away. But luckily he – and his siblings – still have their grammy Jane and papa Bill. And all those six JP kids are lucky to have a great-grandma too since Brad´s paternal grandmother Betty Russell is still alive.