Jackie Coogan [1914-1984] is noted as one of the very first child stars.  He belonged to a family of vaudevillians, and by the age of four was performing on stage regularly with his father.  In 1919, five year-old Jackie Coogan got his big break landing a role opposite legendary actor/director Charlie Chaplin in "A Days Pleasure." Two years later, Chaplin hired Coogan again for "The Kid." The film was a huge success and Jackie Coogan became the world's first major child superstar eventually earning an estimated $4 million as a child star.  As a child actor, movie audiences adored the young Coogan, but by the time he was 13 he was deemed "too old to be cute," and his career fizzled out.

When Coogan's father died in 1935, his mother married his business manager.  Soon after, at the age of 21, Jackie learned that his mother and step-father had spent most of his fortune.  Only about $200k of the $4 million he had earned was left.

Jackie Coogan's story is the reason that today production companies in California are required to deposit a portion of every child actor's earnings into a blocked trust account.

States like CA, NY and NM  have entertainment labor laws that require a every child actor to hold a blocked trust account.  In California, this account is called a Coogan Blocked Trust Account and 15% of the minors gross income is deposited into this account.  The funds are held in this account until the child is 18 years of age.