Leavin’ it All to the Dogs
A warning to spoiled rich kids out there: You just may lose out on millions–to a dog. An increasingly popular trend these days among the wealthy is making their prized pooch the primary beneficiary in their will. Legendary hotel and real estate mogul Leona Helmsley, who died in August, 2007, left $12 million to her Maltese dog Trouble. According to the New York Post, in contrast, two of her four grandchildren received a total of $10 million each, while the other two grandchildren received nothing.
In these situations, the money left to lucky dogs such as Trouble is usually put into a “pet trust,” which will help to ensure top-notch pampering and care for the rest of the dogs’ lives.
Aside from the rich and famous, many Americans are creating pet trusts to ensure that their pets live comfortably if they should die. However, the size of these trusts tend to be around $5,000-$10,000, according to the Associated Press.
I love my pets, but man, $12 million? I’m thinking my cat and two dogs would get along and have great lives without quite so much money. I think the idea of having a pet trust set up for your animals is a fantastic. I’ve gone to plenty of shelters and seen animals who are up for adoption because their owners have passed away. Having some sort of trust set up would ensure your pets would not have to face the possibility of ending up in a shelter!
If you’re an animal lover and happen to have $12 million lying around, you might want to think about donating a good portion of that to some worthy pet organizations such as a ASPCA or the Best Friends Animal Society.
I’m sure Fido will get along fine with just a cool million or so.