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What happens to pets when their owner dies or becomes disabled? Many pet owners remember their dogs and cats during estate planning.
Leona Helmsley, billionaire hotel operator and real estate investor, also known as the “Queen of Mean,” apparently had a soft spot in her heart for her white Maltese dog, Trouble. Perhaps it’s lonely at the top and the little dog’s unconditional love filled a need. At any rate, upon Helmsley’s death earlier in August 2007, her will revealed a $12 million bequest to Trouble along with provisions, upon its death, for the little dog’s remains to be buried next to her own remains and those of her late husband and son in the ornate Helmsley mausoleum. Until that time, the canine multi millionaire heiress will be cared for by Helmsley’s brother, Alvin Rosenthal, who inherited $10 million from his wealthy sister. Willett vs. Willett in Kentucky in 1923 is the first reported case concerning an inheritance left to a pet. Since then the numbers have grown and approximately one quarter of pet owners now include their animals in their will. Although not all states enforce pet trusts, Florida estate attorney Peggy Hoyt says, “It helps to have a living trust that can be put into action immediately should you suffer mental or physical disability or death." As more animal companions are considered members of the family, part of the responsibility of pet ownership means making provisions for their care in the event of your death or disability. In 8-year-old Trouble’s case, $12 million is obviously more than enough to keep her in the lap of luxury for the remainder of her life, which could be another eight to ten years. But just how much should one leave to a dog? It is estimated that the cost of food, shelter and medical care for a dog for one year can average around $1500. Cats may require slightly less. This may be a good base of reference to use when determining how much to appoint for your pet’s retirement. For those who have no relatives or friends willing to take in an older homeless animal, there are pet retirement homes, such as Bide-A-Wee’s Golden Years Retirement Home in New York, which provide orphaned pets with comfort, security, and love for their remaining years. Prior arrangements and a fee of $15,000 give the concerned owner peace of mind and the assurance that their beloved will not end up at the pound and/or euthanized. Leona Helmsley’s provisions for Trouble may seem a bit extravagant to some, but they are not unique. Natalie Schafer, star of Gilligan’s Island, also provided generously for her dog. Singer Dusty Springfield left a portion of her fortune, along with detailed instructions, for the care of her cat, Nicholas. Actress and well known animal welfare activist, Betty White, and talk show hostess, Oprah Winfrey, have also remembered their pets in their wills. To ensure the long-term care of your animal companion, contact the Humane Society of the United States for information on estate planning for pets.. Related Reading:
The copyright of the article Trouble Helmsley, Millionaire Dog in Dogs is owned by Joy Butler. Permission to republish Trouble Helmsley, Millionaire Dog in print or online must be granted by the author in writing.
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