Truth About Pets That Inherit Money

For many pet owners, all they ever had or considered as family is their pet. Whether that pet be a dog, cat, pig, horse or bird. People fall in love with their pets and wish to see them properly taken care of while they themselves are alive and even after they have passed on. With that said, many people across America, Asia and Europe have left hundreds of thousands and even millions of inheritance money to their one and only pet. But how do they know that these pet are actually benefiting from the life of luxury which they are suppose to get once their owners have passed on. There are many factors which pet owners need to know before simply leaving tonnes of money to their fish.

What May Happen When You Leave Money Or Estate To A Pet
As much as how we think of our pet as near human, in law, pets cannot own any piece of property as it is considered a property itself. Therefore if you leave any form of property in a will to your pet, it will most likely go to the next beneficiary in line. So if you had a cousin who hates pets but loves riches, and you have no other next of kin, chances are that your pet hating cousin will get the estate.  If there is no next of kin, then don't go jumping for joy as your pet simply cannot take care of itself and therefore must be under some type of supervision. The courts may appoint a trustee to take care of your pet if needs be.


When a trust is setup for your pet. It appoints several persons to oversee the well being of the animal. Money can be dispersed to these individuals who all have different roles to play in the animals well being.  Lets look at some of these people who may be appointed to care for your pet when you pass:

1. Trustee 

• The trustee is suppose to be the most trustworthy person as he/she controls the inheritance and decides how the money is to be paid out according to the different needs of the pet.

2. Caretaker

• This is the person whom the pet will have most interaction with. The caretaker looks after the pet and is given money to ensure that the necessary bills are paid and the pet remains healthy and happy.

3. The Enforcer or Overseer

• This person keeps a close eye on money disbursement to ensure that the funds are not misappropriated. So that the animal receives every penny in care it deserves.

What Happens To Your Money When Your Pet Dies
Who really knows? I am giving you the best answer and probably the most realistic. The thing is, swindling your pets inheritance is a very easy thing to do. If all three caregivers are corrupt, then the funds will be misappropriated and no one will be held accountable for such. Lets look at easy ways how money can easily be swindled when you leave inheritance for your pet.

• Cut Maintenance Cost
  

The Caregiver can substitute low grade dog food for the high grade which you left instructions to feed your pet. Rich pet owners spend thousands of dollars on their pets weekly for the best food, spa, clothing, health and insurance for their pets. When they pass, they expect the pet to continue living it's life style. This can be easily cut and let the caregiver put some good cash in his pocket.

• Pet Dies, Money Still Flows
  

So whats the deal now that your pet has passed also and the money still flows in to the oversees and caregivers. Well, i can tell you that many pets who have received large inheritance have died and have been simply replaced by another pet that looks exactly like them. That pet is given the same same and trained to respond to that name.

• Pet Dies, Money May Go To Caregiver
  

This is a perfect recipe for pet murder! Why have the animal around for long when you can get rid of it and inherit hundreds of thousands or millions in your pocket?

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How To Set A Proper Inheritance For Your Pet

• Appoint Clear and Specific Rules.
  
• Ensure that you already have specific people planned ahead who will oversee your pet.
• Ensure that you state how your money must be distributed in case your pet also dies.
  
• (Charity Animal Groups are good ways to go, other animals will benefit from this kind gesture)
• Appoint a detective (pet watchers) to ensure that the animal is properly kept and not mistreated.
  

After you pass, there is not much you can do as a pet owner but simply hope and wish for the best as you cannot control what will happen. Your pet is special to you and people who are placed in positions to take care of the animal once the owner passes should do so whole heartily.