Man’s Best Friend

Man’s Best Friend

Man’s Best Friend

by | Uncategorised

For some people, a pet is considered one of the family and this doggy devotion can continue even after death. In 2015, accountant Rose Ann Bolsany, bequeathed her beloved Maltese dog Bella Mia a considerable legacy favouring the dog over her two sons in her last will and testament.

This may seem extreme, but when Bella Mia is already enjoying a $65,000 a year lifestyle her owner’s dedication is clear. With a collection of designer gowns and a fillet steak diet, Bella Mia has a quality of life her owners are determined will continue after their death.

Bella Mia will inherit a property and a share in the children’s will trust. The family, including the son’s, have considerable wealth and the dog’s legacy is not anticipated to be disputed but if you want to ensure that your family pet is cared you also need to act in life.

Under UK law a gift to care for a pet is a ‘trust of imperfect obligation’. This is a request and not legally binding. The nominated carer may simply take the money and run, leaving any other Bella Mia’s without their couture wardrobe.   It should also be remembered that using a trust can be an expensive way to provide for a pet and there is time limit on how long it can exist. It is possible the trust will expire before beloved Fido.

If you want to ensure your four legged friends are cared for after your death, regional animal charities offer schemes to assist with caring or rehoming pets. Or someone you know may love your pet as much as you and be willing to adopt them into their home once you have gone. After all, every dog has its day!

Disclaimer: Wills Worldwide is not licensed or qualified to give tax advice. This article is intended for information only and does not constitute tax advice. If you are in any doubt about your tax status please contact a qualified professional.

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