Sunday, June 4, 2023
Leaving it all to the dog: Pet inheritance and disputes
When fashion icon Karl Lagerfeld died in 2019, it was heavily reported that he left a sizeable estate to his blue-cream tortie Birman cat named Choupette. His former housekeeper, Françoise Caçote, was directed to care for the feline along with $1.5 million. After this, leaving behind money for animals became a hot topic.
Pets are considered personal property unless they are working animals, in which they become business assets. However, one cannot leave money directly on a piece of property.
A legacy trust is one available option, often used for animal maintenance and welfare. Another option is to leave a cash legacy to a nominated person, with specific terms carefully drafted so only that person receives the legacy who has already agreed to care for the pet.
For more information see Debbie Nicholls-Carr “Leaving it all to the dog: Pet inheritance and disputes” Todays Will & Probate, June 1, 2023.
Special thanks to David S. Luber (Florida Probate Attorney) for bringing this article to my attention.
https://lawprofessors.typepad.com/trusts_estates_prof/2023/06/leaving-it-all-to-the-dog-pet-inheritance-and-disputes.html