Do you plan on leaving part (or all ) of your Palm Beach estate to your pets? Do you know the rules on pet trusts and honor trusts in Florida? Have you heard about the recent case where a woman left $200 thousand to her Maltese puppy?
Honor Trusts and Pet Trusts
- Only a few states allow so called pet trusts where a person can actually leave property in trust to an animal.
- Florida happens to be one of them.
- Do you know the rules on an animal or pet trust?
- Experienced Palm Beach probate litigators know that the rules are very different foranimal trusts.
- In some states where an animal trust is void, you may still want to consider an honor trust where the trustee is bound only be their word.
- How much money do you plan on leaving to a pet?
- A recent case out of Queens New York saw a woman leaving about $200 thousand dollars!
Woman Leaves Pet a Small Fortune
- Bella Mia, a three year old Maltese puppy recently inherited $200 thousand.
- Have you ever had such a large inheritance?
- I wonder how she will invest it, maybe retire to her nice Delray Beach house.
- That’s right she actually also gets a Florida vacation home, the family jewels, a wardrobe and a trust fund to pay for a caregiver to take care of her!
- The dog has her own jewelry and wardrobe as well.
- There are also two sons inheriting the lion’s share of the Queens New York estate.
- Experienced Palm Beach probate litigators know how to draw a proper West Palm Beach pet trust into an estate plan meant to reduce taxes and ensure ease on heirs.
Want to learn more?
Check out a local news article on the strange inheritance here.