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The rich are increasingly leaving their wealth to their pets

21:04, September 17

The late Karl Lagerfeld made headlines after his death in 2019 when it was revealed that his Burmese cat Choupette would inherit a significant portion of his $300 million fortune. Now, it appears that wealthy pet owners are following suit and including their furry friends in their wills.

In fact, lawyers have noticed a surge in owners wanting to leave a larger portion of their wealth to their pets, CNN reports. Choupette isn’t the first or only pet to become rich. Nearly two decades ago, real estate mogul and hotel queen Leona Helmsley left a whopping $12 million to her Maltese cat Trouble. However, a judge later reduced the bequest to $2 million at the request of the Helmsley estate.

Earlier this year, an elderly woman in China decided to leave $2.8 million to her cats and dogs instead of her children, who failed to care for her when she fell ill.

Of course, since pets are legally considered property, they technically can’t be named as beneficiaries. But like everything else, there are gray areas. As of 2022, all 50 states in America have enacted pet trust laws—a legally binding obligation that allows trusts to be created for animals.

They “must have access to your home, instructions for the care and feeding of your pet, the name and contact information of a veterinarian, and written instructions for the long-term or permanent care of the pet,” Peggy Hoyt, a Florida attorney and author of All My Children Wear Fur Coats, told CNN.

Take Majel Barrett-Roddenberry, for example. Instead of including her dogs in her will, the late actress, who was the second wife of Star Trek creator Gene Roddenberry, chose a $4 million trust for her pooches and set aside another $1 million for someone to look after them. Similarly, Leslie Ann Mandel, who was married to the late writer Arthur Herzog, created a $100,000 trust for her 32 parrots.


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