Border collie inherits $5 million!
- AuthorLeah Woodnott
Bill Dorris, a wealthy American businessman passed away, leaving a valid will, which placed $5 million in trust for his beloved dog, Lulu!
Bill was unmarried with no children and his love for the 8 year old border collie shone through when he executed his will. Bill wanted to ensure that Lulu was well provided for when he passed away and therefore specifically named who he would like Lulu to be looked after by.
As a dog cannot be a beneficiary under a person’s will, the funds will be held on trust for the benefit of Lulu.
Lulu will be looked after by Bill’s caretaker, Martha Burton. Martha will be able to be reimbursed by the trustees of the trust, for any reasonable expenses that she incurs whilst taking care of Lulu.
With dogs often being referred to as “a man’s best friend”, it is not uncommon that people would like to ensure that their pet is well provided for when they pass away. Lulu is not the only dog to have inherited a fortune, Guther IV inherited $200 million from Countess Karlotta Leibenstein of Germany!
You can include provision in your will for animals in various ways; if you have a pet then why not leave funds on trust for them so that their standard of living is the same as now, or better if you leave them your whole estate! You can also leave gifts to animal charities in your will, either by leaving a pecuniary legacy of a fixed sum, or as part of your residuary estate.
Find out more about leaving gifts in your will to your pets here.
If you would like to have peace of mind knowing that you pet is well provided for on your passing, then please contact one of our will specialists. I am based in our Colchester office and can be contacted on 01206 217609 or firstname.lastname@example.org.