Coogan Accounts for Kids
The "Coogan Accounts" and "Coogan Laws" are named after child actor Jackie Coogan, later known as "Uncle Fester" in the Addams Family T.V. Show. As a child he earned millions and his parents spent it. California then changed its law. This book details how to set up and manage required "Coogan Accounts" to protect part of a minor's earnings. More
To Baby Boomers, Jackie Coogan was the bizarre and beloved “Uncle Fester” in the equally bizarre and beloved 1960’s “Addams family” TV show which was strangely based upon the New Yorker cartoons by Charles Addams.
To the Baby Boomers’ parents, Coogan was the titular juvenile co-star for Charlie Chaplin’s “The Kid” back in the early 1920’s. At that time, the young motion picture industry had neither sound nor kids in their distributed films. Chaplin and Coogan changed the latter detail, and for that alone, perhaps all young performers owe a debt of gratitude to pioneers such as Jackie Coogan.
Today, most people in the entertainment industry know the Coogan name, if not the performer himself, because of the California led legislation instituted to deal with the peculiar aspects of the underage "actor, actress, dancer, musician, comedian, singer, stunt-person, voice-over artist, or other performer or entertainer, or as a songwriter, musical producer or arranger, writer, director, producer, production executive, choreographer, composer, conductor, or designer”, all of which generally populate most of our popular entertainment media. The legislation was spurred on simply by the amount of money involved, both as compensation and in production costs.
This book is concerned with the so-called “Coogan Accounts”, where and what to invest in, and how to keep everything “on track”, including a sample trust document and the applicable statutes.