Sometimes, pet owners get creative when providing for their pets’ future care. The following three famous cases involving pet trust cases offer some important lessons.
David Harper and Red: Pet Trust
David Harper, a wealthy, reclusive bachelor in Ottawa, Canada, was not exactly famous during his life. In his death, however, he made headlines by reportedly leaving his entire $1.1 million estate to his tabby cat, Red. To ensure attorneys fulfill his wishes, Harper bequeathed the fortune to the United Church of Canada under the stipulation they care for Red! The ploy worked.
Pet Trust Lesson Learned
Ensure your pets receive proper care. You can be creative in so doing.
Maria Assunta and Tommaso Pet Trust
In a four-legged, furry version of the classic rags-to-riches story, wealthy Italian widow Maria Assunta rescued a stray cat from the streets of Rome and gave him a proper home and name: Tommaso. As Assunta’s health failed, she tried for several years to find an animal organization to entrust Tommaso with. When they could not find a suitable organization, Assunta left her $13 million estate directly to the cat. In fact, in her will, she named her nurse as caretaker. She died in 2011 at age 94. She knew that doing so would ensure caretakers would take care of her beloved Tommaso.
Pet Trust Lesson Learned
Do not assume someone will automatically care for your pet when you pass. The best way to ensure that your pet is cared for is to plan, choose a caretaker you trust, and put your wishes in writing with a proper estate plan.
Patricia O’Neill and Kalu Pet Trust
Patricia O’Neill, daughter of British nobility and ex-spouse of Olympian Frank O’Neill, had designated a fortune worth $70 million to her chimpanzee, Kalu, and other pets in her will—or so she thought. It was discovered in 2010 that the heiress was, in fact, broke, thanks to the shady dealings of a dishonest financial advisor. This story provides perhaps the most famous example of a pet trust gone dry while the owner was still alive.
Pet Trust Lesson Learned
You can only give away what you have. If caring for your pets after your death is important to you, make sure your financial plan aligns with your estate plan and that you have taken appropriate steps to oversee your advisors.
Establishing a pet trust is the best way to ensure that your beloved pets receive the care they deserve after you pass on. To learn more about your options, give us a call today.
About Skvarna Law Firm in Glendora and Upland, California
Let a skilled attorney assist with your estate plan. So, contact us today to learn about your options (909) 608-7671. We operate offices in Glendora and Upland, California. Therefore, we provide legal services for individuals living in San Bernardino, Los Angeles, Orange, and Riverside Counties. This includes the cities of Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Montclair, Pomona, La Verne, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma. Visit SkvarnaLaw.com to learn more.
