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Yep, I have seen that happen a few times with trust fund folks I know. Sadly the third generation often grows up with a tremendous sense of entitlement and no real understanding of the hard work that went into building the wealth they are benefitting from. And no sense of responsibility to help GROW the wealth instead of blow through itā¦ In their minds, it is there to allow them to play their whole lives and not have to hold down a job.
I recall someone quoting LK from years back saying sheād won the lotto, that was where her money came from. Never corroborated and I donāt believe it because her fatherās obviously paying for everything now.
However, people in financial services can sometimes make very good investments on their own that pay off big time. If youāve already got a comfortable upper middle class lifestyle you arenāt necessarily going to want or be able to jack up into the millionaire lifestyle in late middle age just because some of your investments paid off insanely well.
I think a more interesting question is whether Dad can be held financially liable for Adult Childās damages to others. In this case Dad was negotiating terms and paying the bills, so he is definitely up close in the causal chain that landed and kept Child in this situation.
In all seriousness, I do know someone who had a civil case against whichever state entity is responsible for freeway/highway maintenance and tree planting. She doesnāt remember the incident but one guess is she fell asleep or lost control of the car while driving on the freeway and plowed into a tree. It was very devastating, she was in a coma for a chunk of time, had massive brain trauma, and had to relearn how to read and speak. I lost touch with her a couple years ago, so I donāt know if the case went through, but the basis was that the entity responsible for tree planting had the trees planted much closer to the edge of the road than was allowed by law
Interesting. She did say that the auto accident was the source of the addiction.
Once again, letās review:
Who was the source of that information? Was it LK, the one who testified under oath on the witness stand that she lies a lot on social media?
Did the surgeon say she was shot in the rib? I donāt recall him saying that, and I would think he should know.
And were those posts before she invented the helicopter ride that was referenced so many times?
Iāll have to go back and rewatch the doctorās testimony - I donāt remember either. In one of LKās very early posts, she said she was shot in both lungs, but after that she kept the discussion to primarily two shots in one lung.
However, people in financial services can sometimes make very good investments on their own that pay off big time.
I do know a person who did that.
I donāt know his whole life story, but my understanding is that he came from pretty normal means before he started managing hedge funds or something, and by the time his kids were old enough to show, they each had a couple of very nice ponies, and theyāve continued to have multiple very nice horses for the 20 or so years that Iāve known them. So itās not impossible, although it probably does not happen all the time.
LK said on the stand - in her own muddled fashion, that suggests a lie - that she got hurt in college, playing sports, and got hooked on painkillers, but there is no record of her playing sports at Hollins or being involved in anything remotely dangerous, as far as student activities go. In fact, thereās nothing that comes up with her name at Hollins, beyond her having a registered PO Box in what was probably the student mail center.
I recall someone quoting LK from years back saying sheād won the lotto, that was where her money came from. Never corroborated and I donāt believe it because her fatherās obviously paying for everything now
Maybe her parents are her winning the lotto?
Kinda like her response to the question about where daddyās money comes from, āthe bankā.
Iāll have to go back and rewatch the doctorās testimony - I donāt remember either. In one of LKās very early posts, she said she was shot in both lungs, but after that she kept the discussion to primarily two shots in one lung.
Honestly, itās just yet another example of how the story kept changing all the time.
I recall someone quoting LK from years back saying sheād won the lotto, that was where her money came from. Never corroborated and I donāt believe it because her fatherās obviously paying for everything now.
However, people in financial services can sometimes make very good investments on their own that pay off big time. If youāve already got a comfortable upper middle class lifestyle you arenāt necessarily going to want or be able to jack up into the millionaire lifestyle in late middle age just because some of your investments paid off insanely well.
I think a more interesting question is whether Dad can be held financially liable for Adult Childās damages to others. In this case Dad was negotiating terms and paying the bills, so he is definitely up close in the causal chain that landed and kept Child in this situation.
I think you are onto the truthā¦ and that Dad made really smart investments in the 90ās, and once he reached a certain ageā¦ maybe they could afford to tap some of these investments without tax consequences. And they chose to support their daughter. Who never finished college, went through a seriously rough patch with an early divorce, repeated run ins with the law, those significant burglary charges, and of course struggling with addiction along the way. And RG clearly was no parentās idea of an ideal fiancĆ©. Her sisters both seem to have married professional, successful guysā¦ who fit with their careers and backgrounds. So perhaps Mom and Dad wanted to support LKās Dressage aspirations in/around 2016, which theoretically provided some meaningful direction to her life. And used their own investment money to buy her a few horses and pay for some training.
But there were comments on one of the threads that prior to the shooting, JK had been talking about slowing the flow of water from the spigot, so to speak. I wonder if they regrouped post shooting, and sincerely believed there would be a big civil payout because of the liquidation of MBs assets, after he lost a criminal case and the civil case moves to a position of āadvantage Kanarek.ā
I wonder what happens now and if MB can financially hang in there to fight the civil litigation battle? Can he add JKās name to the counterclaim suit?
Rather than moving on from the loss at the trial, (yes, LOSS) they partied, which is perfectly normal for a holiday weekend, and then posted the photos on SM with hashtags screaming for attention. Incredible. Such a lovely all American family.
Maybe they are hoping to become the new Kardashians.
I have never watched or understood the whole Kardashian thing, so maybe Iām off base, I donāt know.
So who knows what JK did after working for EF Hutton in the 80ās. There is no public info. Butā¦ it does not seem there was some sort of family business or inherited wealth. It seems he was someone who was a white collar professional, with a law degree, working in the financial district of NYC.
There was an obscene amount of money to be made by white collar personals in the 80ās and 90ās. In totally legit ways. Doctors and lawyers were raking it in hand over fist. There is a good chance JK came by huge amounts of dough through that time period doing nothing more shady than working as a lawyer at that time. Really, it was madness. (Sadly I missed that time period ). That being said, if he put that money in various financial places, including real estate investments, he could absolutely have lots of easily liquid investments. His keeping his name on the fla property tells me that he doesnāt completely trust his daughter to not do something silly.
Also if the parents helped the other two out with college costs, they may feel this is the equivalent of that same tuition benefit that the others took advantage of.
None of this is to say they arenāt nuttier than trail mixā¦
Also if the parents helped the other two out with college costs, they may feel this is the equivalent of that same tuition benefit that the others took advantage of.
I could understand the logic of that idea. But presumably the other two have not continued to go to college for the last 20 years.
I wonder what happens now and if MB can financially hang in there to fight the civil litigation battle? Can he add JKās name to the counterclaim suit?
Dunnoā¦.but I seem to recall IM saying that JK wasnāt paying the legal fees for thatā¦.so I assume that he has no power to actually stop the suit, even without MB having filed a counter suit. I guess the bills were being taken care of on a contingency basis. I wonder how much that will affect things going forward. I bet that there is yet another lawyer who is going to find out the hard way what kind of mess they just walked intoā¦.
She did H/J before Dressage, correct?
And that came about, when?
She didnāt have a string of Hunters?
Dunnoā¦.but I seem to recall IM saying that JK wasnāt paying the legal fees for thatā¦.so I assume that he has no power to actually stop the suit, even without MB having filed a counter suit. I guess the bills were being taken care of on a contingency basis. I wonder how much that will affect things going forward. I bet that is another lawyer who is going to find out the hard way what kind of mess they just walked intoā¦.
Maybe that, combined with the bottle of Dom, was the source of the civil lawyerās rant.
I hear you, but families will justifyā¦
There was an obscene amount of money to be made by white collar personals in the 80ās and 90ās. In totally legit ways. Doctors and lawyers were raking it in hand over fist. There is a good chance JK came by huge amounts of dough through that time period doing nothing more shady than working as a lawyer at that time. Really, it was madness. (Sadly I missed that time period ). That being said, if he put that money in various financial places, including real estate investments, he could absolutely have lots of easily liquid investments. His keeping his name on the fla property tells me that he doesnāt completely trust his daughter to not do something silly.
Also if the parents helped the other two out with college costs, they may feel this is the equivalent of that same tuition benefit that the others took advantage of.
None of this is to say they arenāt nuttier than trail mixā¦
All good points, and I agree. With all that saidā¦ this isnāt exactly a sustainable situation. Sheās allegedly got 6 horses in board in Florida right now. Thatās a significant cash outflow. If the civil suit doesnāt play out as anticipated, Daddy might tell Princess itās time to sell a few ponies.
I think the idea that sheās truly a trust fund baby? Nope nope nope. Just look up the parental home address. And view public images. He may have been smart and careful and squirreled away great investment money. But LK is not like a few other notable names wandering around the South Florida equestrian scene. Itās just the image she wants to projectā¦ that sheās a āwoman of unlimited means.ā
She did H/J before Dressage, correct?
And that came about, when?
She didnāt have a string of Hunters?
I donāt know anything about her riding history other than what has been posted here.