NEW YORK (Reuters) – Real estate billionaire Leona Helmsley left $12 million in her will for her dog Trouble but cut out two of her four grandchildren entirely. Helmsley, the “Queen of Mean” who was famously quoted as saying “only the little people pay taxes” before going to jail for tax evasion, died August 20 at 87.
Who left their inheritance to a dog?
When billionaire real estate and hotel tycoon Leona Helmsley passed away in 2007, she left $12 million to her Maltese, Trouble. According to the New York Times, a year later, a judge decided that $12 million exceeded the amount necessary to care for the dog and reduced the inheritance to $2 million.
Can you leave your estate to your dog?
The answer is no, you cannot leave assets to your pet. But, you can definitely provide for your pet’s care for the rest of your pet’s life by forming and funding a California pet trust.
Can you leave everything to your pet?
Can You Leave Money for Pets? You cannot leave money or other kinds of property to your pet. The law says animals are property, and one piece of property cannot own another piece of property. However, you can plan to make sure that your pet has a good life after you die.
Can my pet be my beneficiary?
Your life insurance beneficiary can be a family member, a business partner, a charitable organization, a legal entity like a trust, or your estate. You cannot name a pet as a life insurance beneficiary, and you should avoid naming a minor child, too.
Can you give inheritance to a pet?
While you cannot legally make your pet the beneficiary of estate assets in your will, you can create a pet trust to provide the necessary funds to care for your pet after you die. …
Can a pet inherit from a Will?
If you have a pet, and you want to make sure that somebody you know will take care of this pet, you can set this up in your Will by including a pet trust. … Because the pet is property, you cannot leave an inheritance directly to an animal, but you can leave an amount to a beneficiary for the care of that pet.
How much is Taylor Swift’s cat worth?
Hold Me, I Just Found Out Taylor Swift’s Cat Is Worth $97 Million.