Member Since: April 8, 2008
Answers: 1
Last Update: April 8, 2008
Visitors: 383
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What is a trust fund account? I'm thinking of becoming an extra for http://www.kidstalent.com and you have to open a block trust fund account, and I wanted to know if having one of those is good, or if it doesn't really matter. And I was reading through the stuff and 20% goes to the talent company (which is understandable...but is 20% too much? I took a class awhile back and I can't remember how much your agent/the talent company is supposed to get...I'm thinking between 10-15% or 15-20%...), then 15% goes into the trust fund account, and then where does the rest of it go, since I know I can't touch it until I'm 18... If you know a little about commercial acting and could answer these questions and could help me out, that would be stellar. Oh, also do you know of any other kids backround talent agencies? I used to do it for fun (and I used to just tell them I was 16 or 18...but now I want to get paid for it so I'll have some money for the future) and this is the only one I know of. When I go to be an extra, they always referr me to Central Casting Company, and for that, you have to be 18 and over. I'm 16/f/CA, btw. (link)
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The correct website for Kids Background Talent Company is KidsManagment.com. A trust fund account or Coogan account is required to work in the entertainment industry in California. 15% of the money that you earn within the industry is put into that account until you turn 18 years old at which time you can withdraw the funds. The largest and by far most successful company is Kids Background Talent (a.k.a. Kids Management). They work with almost every casting company in Hollywood to provide young people interested in and willing to work in the industry. They can be reached at KidsManagement.com. They charge a commission of 20%. When you work the company takes their commission, the Coogan money is put into your account for the future and the balance after taxes is sent to you. Central Casting books extras from the ages of 18 and up. They utilize Kids Management as a resource to book anyone from 2 weeks old until they turn 18.
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