Many states now provide for Pet Trusts under their laws. But, there is a right way and there is a wrong way to leave money to you pet. Here is example of how you do not want to do it.
When she died in 2007, hotel tycoon Leona Helmsley's will left most of her $5 billion estate to charity, created a $12 million trust for her Maltese dog, Trouble, and completely cut out two of her four grandchildren. The two stiffed grandkids sued her estate, claiming she wasn't mentally fit to create her will and trust. The case settled, with Trouble getting $2 million, and the two grandkids sharing $6 million plus legal fees.
If you're older and cutting out relatives, have some professional, doctor or lawyer, conduct an evaluation of your sanity to confirm your sanity when the natural object of your "bounty" is disinherited, especially in favor of an animal.
If you're older and cutting out relatives, have some professional, doctor or lawyer, conduct an evaluation of your sanity to confirm your sanity when the natural object of your "bounty" is disinherited, especially in favor of an animal.
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