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Jessica McClure Gets Her Trust Fund


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Baby Jessica (the little girl who fell in the well when she was a toddler and was trapped there for several days) is now 25 and getting her trust fund. The fund is $800,000 that was donated during her ordeal.

 

I'm happy for her that she won't have to worry about money, etc. But it seems so strange to me that because of this ordeal, she now has all this money. I remember when this happened, and I of course felt sad and anxious for the family like everyone else who watched it. It never occured to me to call and donate money though. Everything was already being done that could be done.

 

Obviously good for her, and it doesn't make any difference to me personally. I certainly don't begrudge her the money. It just seems strange why people choose to donate money to certain things. So many other people go through horrible things with no one to watch or even know.

 

Does anyone else feel the same, or am I seeing it wrong?

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I remember when she was in the well. It was an interesting story, but I wouldn't have dreamed of giving her money. I wonder if she had an injury that would cause her lifelong problems, and that's why people helped her out?

 

Money can be a curse or a blessing. I hope the money proves to be a blessing to her. I hope she has wise managers who will protect her.

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Whoa. If I had made a donation at the time of her ordeal, I would have expected it to go towards medical expenses or the cost of the rescue effort.

 

Does she have ongoing medical issues as a result of her entrapment? If not, to me it seems rather... unethical?... to have kept that amount of money for future living expenses. If she doesn't have a unique, experience-related need for the money, seems like the right thing to do would be to donate it herself, perhaps to a local fire department for purchase of equipment.

 

Weren't there book and movie deals from which she's already profited?

 

I don't begrudge her the money, just wonder what I might do in similar circumstances. And how I would feel if I were a donor then, now seeing that she's kinda won a lottery...

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I have wondered in the past, how much 15 minutes of fame can cost a person. I have had this thought wander through my head many times, but I really thought about it when the little 6yo Falcon, became known as the 'balloon boy' and subsequent whistle-blower.

 

Not just the emotional toll, but the financial also. In his case, the parents will have the financial bill for now, but what about later in life? What if he has a stalker or criticized as an adult based on the situation his parents created. Could it affect his career or future?

 

In her case, I think there were speculations that the lack of oxygen could create medical issues.

 

I think people want to help. They aren't there, can't do anything, but do have money and want to help, so they do what they can, which is....donate money.

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I don't begrudge her the money, just wonder what I might do in similar circumstances. And how I would feel if I were a donor then, now seeing that she's kinda won a lottery...

 

Yes, that is exactly what I was thinking. It's just really weird.

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Lauer asked her if she’s ever been able to understand why so many people became so emotionally involved in her rescue and her life.

 

“I explain to myself that I believe that people cared so much because they would hope that somebody would care that much about them,†she said. “In a way, helping me out and caring about me helped them out.â€

 

I found this quote on another site, which sort of makes some sense to me. I guess what bothers me is the inequality of it all, how many people and families suffer things, not just her, and yet due to the whim of the media she will no longer have to worry about anything.

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she will no longer have to worry about anything.

 

 

I doubt that $800,000 will last her very long. I don't know her and honestly hope that I am wrong, but it seems that people who get a large sum of money that they did not earn, seem to let it flutter through their hands in a few years.

 

 

You often hear lottery winners saying that winning, was the the worst thing that ever happened to them. :(

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It just seems strange why people choose to donate money to certain things. So many other people go through horrible things with no one to watch or even know.

 

Does anyone else feel the same, or am I seeing it wrong?

 

I agree. If you are called to donate money in a situation like this, then it should be to cover medical expenses or should go to the rescue services involved. Donating to a person makes no sense to me...

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I doubt that $800,000 will last her very long. I don't know her and honestly hope that I am wrong, but it seems that people who get a large sum of money that they did not earn, seem to let it flutter through their hands in a few years.

 

 

You often hear lottery winners saying that winning, was the the worst thing that ever happened to them. :(

 

My thoughts, exactly.

 

I'm happy for her. It was nice of people to donate. $800,000 is not really that much money. I'm also glad they made her wait until she was 25.

 

:blink:Gulp! $800k is an incredible amount of money! She's 25 and can now, if she hasn't already, get a college education and get a job. This money won't let her "retire" at 25, nor do I believe it's intended to, but if she invests and spends *wisely*, she'll have a great head-start in life. FWIW, 'they' should have made her wait until she was 30, imo.

 

Sadly, though, I do believe the money won't last long.:sad:

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From what I have just read, she had 15 operations over the years, so I would imagine that her parents just wisely invested it and used it to pay for the operations and other things she needed. She has used some to purchase her home and wants to put money in a trust fund for her children's education. So really, what was donated has been used for the purpose it was donated for, but thanks to her parents investments it has grown over 20+ years.

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I doubt that there was much money donated. This happened 17 years ago. That was a LONG time to collect interest. It was wise parenting to set this up for her for her future and not when she was 18.

 

Good point! I hadn't considered the "time value of money" aspect.

 

From what I have just read, she had 15 operations over the years, so I would imagine that her parents just wisely invested it and used it to pay for the operations and other things she needed. She has used some to purchase her home and wants to put money in a trust fund for her children's education. So really, what was donated has been used for the purpose it was donated for, but thanks to her parents investments it has grown over 20+ years.

 

This makes much more sense, and as others have stated, what a blessing to have wise parents!

 

Still, it would be a nice gesture for her to purchase some needed equipment for the local rescue units. Eight hundred K is a middling amount (for a "fortune"); she could be wise like her parents and set up accounts for her kids, eliminate her own major debts, donate some, and live a typical American life. Or, she could blow it pretty quick, chasing an upscale lifestyle. Let's hope she got the good financial genes.

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From what I have just read, she had 15 operations over the years, so I would imagine that her parents just wisely invested it and used it to pay for the operations and other things she needed. She has used some to purchase her home and wants to put money in a trust fund for her children's education. So really, what was donated has been used for the purpose it was donated for, but thanks to her parents investments it has grown over 20+ years.

 

I was going to mention this: normally, when people donate to a minor, a "trust" is set up for them so that the guardians can't just blow through the money namby-pamby. They have to submit bills to an outside party to have them paid (usually a lawyer).

 

Smart trust executors put the money in low risk instruments that can gain interest so that the family can have a larger pool from which to draw for expenses.

 

No one writing on an internet chat board knows what kind of horrors that woman may or may not hold in her head from falling down that well. There was an entire thread here where several posters insisted a child who was brought to a psychiatric ward after saying they were going to kill themselves was going to experience permanent psychological damage for the rest of their life. Why wouldn't a toddler who fell down a well? And, if so, how would someone pay for that kind of therapy? Or should "the state" pay for it?

 

Did someone on this board give her money and now has "buyer's remorse"? If not, what is the problem? Obviously, the people who gave her family money felt compelled to do so, for whatever reason: religious, personal experience (an accident in their own lives, loss of their own child, etc.), simply had it to give, etc.

 

Is the real problem jealousy because she has money in a down economy?

 

 

asta

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I do think it's a bit odd that she'll be getting all this money now for something that happened so long ago. If I had donated money, I would have expected it to go toward medical expenses, etc. But I don't begrudge her the money. If it's all the result of good investing on the part of the parents, then great. I hope she uses it wisely.

 

It does bother me, though, when people do really foolish, dangerous things, and then end up in dire straits and need masses of money to deal with the consequences. I think I must really be an old meanie, because when I saw the article last week about the wing-walking couple that got in a very bad accident, my reaction was not very charitable. I mean, I feel terrible that the woman is so badly injured and hope she recovers completely, but it bothers me that she's going to need to raise masses of money to pay all the medical bills. She knew the danger. Her father and father-in-law both died in a stunt flying accident. And yet she continued with it.

 

I'm all for helping innocent people who are in unforseeable accidents (as with baby Jessica), but when people choose to do something extremely dangerous, I have a little less sympathy when they have huge medical bills as a result.

 

So am I the only meanie here?

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...

 

Is the real problem jealousy because she has money in a down economy?

 

 

asta

 

Um, no. :001_huh:

 

Your other points are well made, asta, but this is... well, unfounded at best. While we have been curious and speculative, no comments on this thread have been cruel or ring of envy.

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I'm all for helping innocent people who are in unforseeable accidents (as with baby Jessica), but when people choose to do something extremely dangerous, I have a little less sympathy when they have huge medical bills as a result.

 

So am I the only meanie here?

 

Nope. :D I often feel the same way. I don't have hard feelings towards them, though. They simply shouldn't be doing it if they can't pay for the accidents that are bound to happen eventually.

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No, no problems with her getting the money. She never asked for it and those who sent it did not demand how it was to be used. Obviously it was not spent foolishly. With careful planning it has grown into a nice trust fund that Jessica will place into trust funds for her children's education...so it is still not foolishly being used.

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If you are called to donate money in a situation like this, then it should be to cover medical expenses or should go to the rescue services involved.

 

Wow. they way you phrased this makes it sound like you should get to decide how other people's donations are spent. Is that really what you meant? What if the donors are just pleased as punch that their donations are being used the way they are in this case?

 

I remember a few years ago a girl named Karyn set up a website and asked people to donate $10,000 to her so she could pay off her credit card bills, which she racked up by spending foolishly and not due to medical issues or anything. And you know what? People did, and she paid off her credit card. I thought she was an arrogant twit, and I thought the people who donated to her were stupid, but then again, why should I get to decide how people spend their money?

 

Tara

 

Tara

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Wow, I'm sort of surprised how many people are begrudging her the money. People donated money to her, her medical expenses were covered, and now she has some extra. From the article I read, it said she used some to buy a house and is putting some away for her children. I think that is a perfectly reasonable way to spend it, and I don't think she should be expected to give it up. I wouldn't and I don't think that she is obligated in any way, morally or otherwise, to do so. I'm just glad that her parents were wise with it. I'm happy for her, what a great start.

 

Also, I do resent a little that people think she is too young. Twenty-five is a perfectly respectable age, especially as she is married and has two children and her own business. Then again, I might be a little biased as I am also 25, married, and have two children :001_smile:.

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Did someone on this board give her money and now has "buyer's remorse"? Is the real problem jealousy because she has money in a down economy?

asta

 

:001_huh: No...I believe I stated that what prompted the post was a curiosity about WHY people donate to certain things, and also about the inequality of it versus other people in similar situations.

 

I also stated that while I was concerned and anxious for the family, it never occured to me to donate money at the time, for the same reasons I have discussed.

 

Crazy post though about credit card girl. If I had less self-respect I might try it!:001_smile:

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Perhaps what started me thinking about this was the fact that I recently read a book called Dark Places. It was a novel about a woman whose family was murdered when she was young, and she was the only survivor. She was living on a donation trust fund that eventually ran out.

 

When talking to her lawyer, they discussed how her trust fund would have been bigger except that soon after the murders there was a young mom that was kidnapped, and the public started donating to her instead. The media attention swung quickly to the new disaster. Also, the mom was missing for a long period of time (before she was discovered dead) and so "donations had time to build up".

 

Yes, it was a novel, but it struck me how people's decisions can be swayed so much by the media-generated emotions rather than practical considerations.

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I do think it's a bit odd that she'll be getting all this money now for something that happened so long ago. If I had donated money, I would have expected it to go toward medical expenses, etc.

 

 

My thought about goign towards medical expenses is this: What if parents have really good insurance? Then I would hope they would just save the money, in a trust or whatever, until she is, in this case, 25.

 

IF what was said about her husband is true, I would hope the trust is set up so that only SHE has access to it.

Edited by cin
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