Pets can become millionaires. Yes, a select few are doing better than most people these days. It happens when a pet owner with sizable savings decides to leave their good fortune to a dog (or cat).
Whatever these pampered pets do with all of that money is anyone’s guess. Are they buying choices meats from the butcher? Maybe they’re taking home truckloads of squeaky toys or setting up game ranches for squirrel hunting.
Probably none of these, but we know one thing for certain. Their owners knew that when they died, their pets would not be sitting in a dingy shelter on death row. Nor would they be carted off by a relative who really wanted the cash but not the pet.
Setting up a will or trust can ensure a pet continues leading a comfortable life if its owner dies. In particular, it’s a good idea for senior citizens and others who live alone. There might not be immediate family or nearby friends who could care for the pet.
Making sure your pet’s life goes on is one thing. But some pet inheritances get taken to the extreme.
- Hotel heiress Leona Helmsley left $12 million to her Maltese named Trouble, when she died in 2007. Trouble died in three years later at age 12, according to ABC News.
- In 2010, British fashion designer Alexander McQueen left 50,000 pounds ($82,000 U.S. dollars) to his three dogs, Minter, Callum and Juice, according to the Daily Mail.
Even if you’re not a millionaire, you can still take steps to ensure your pet is taken care of in the event of your untimely death. Here’s how:
Protecting pets if you die
*Name a temporary caretaker for your pet in the event of your death. Be sure it is someone who agrees to your plan, likes your pet and will provide good care.
- Use a will to outline the provisions for your pet’s care if you die.
- *A trust can also be set up to care for your pet if you become incapacitated or otherwise unable to take care of yourself.
- *Provisions can include your pet’s temporary and permanent expenses.
- *Laws for pet inheritances are tricky, so it is best to seek the help of an attorney.
Sources: Forbes.com, ABC News, Daily Mail
Send story ideas to Teri at petswriter@gmail.com
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