Julia Roberts Keeps Her Oscars Gown Under Her Bed for Her Daughter (in What Her Husband Calls 'The Heritage Collection'!)

In fact, Julia Roberts has an entire archive in her closet saved for her daughter Hazel

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We imagine stars’ closets overflowing with stunning couture pieces from their many red carpet appearances – and PEOPLE’s World’s Most Beautiful cover star, Julia Roberts, confirms our theory. The Oscar winner sat down with editor-in-chief Jess Cagle and style and beauty director Andrea Lavinthal and shared some coveted closet info that has us totally jealous of the person who gets to raid it all one day — her daughter, Hazel!

Out of all her red carpet looks, Roberts says there was one moment that still stands out above all the rest. “I guess the one that gets the most commentary is probably my look for the Oscars for Erin Brockovich,” she says.

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You know the one: the vintage Valentino column gown she wore to the 2001 Oscars when she took home the award for Best Actress, featuring white piping and a sheer black train. (The black-and-white color palette and vintage nature of the gown even inspired niece Emma’s Oscars gown this year — and she posed with a photo of her aunt in the memorable gown for good measure!)

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Though most dresses go back at the end of the night, she was able to keep hers in a surprising place: “It’s under my bed, in a box,” she says.

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Whether or not she’ll ever actually wear it again, she has it (and many, many other pieces) preserved for her 12-year-old daughter, she says. “I have this little space in my house that my husband refers to as the heritage collection. Things I go, ‘I can’t get rid of [this], what about Hazel?”

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She says her husband, cinematographer Danny Moder, tries to make the case that Hazel may want her own clothes rather than her mom’s “old stuff,” but Roberts still keeps storing: “I say, ‘Well, maybe she’ll want it.’ So I keep keeping things.”

Just don’t expect to see Hazel wearing the gown to prom one day — even her mom doesn’t think she should debut it at a school dance. “I would say, ‘Don’t be so dressy at the prom,'” she says. “You’d look cooler.”