It’s becoming fashionable for wealthy people to leave large inheritances for the care of their pets, after the owner passes away. Every few months, another story makes the rounds in the media.
The latest incident comes out of New York, where a widow named Ellen Frey-Wouters left $300,000 for her cats. She instructed that the money be used so the two cats, Troy and Tiger, would never be caged and would always receive good care.
Fox News reported on the story in "New York widow leaves $300G to her cats."
While there is an obvious tabloid appeal to stories of wealthy people leaving lavish gifts for their pets, there is a very serious side to these stories as well.
More and more people are viewing their pets as something more than mere animals they possess. Pets offer companionship and many people view them with as much love as they do human family members.
This leads to the desire to make sure that pets are taken care of, after the owner passes away.
You do not have to be wealthy to leave something behind for the care of your pets.
Estate planning attorneys can draw up plans for just about anyone to leave some money and instructions for how their pets should be treated.
It can be done through wills or through specially designed pet trusts.
See an estate planning attorney to ask about what you can do for your pets.
Reference: Fox News (Aug. 22, 2017) "New York widow leaves $300G to her cats."