Can pets receive inheritance?

Like many people, you probably consider your pets to be a part of your family and want to make sure they're taken care of after you're gone. But in the eyes of the law, pets are considered property, and you can't use your will to leave them an inheritance.

What happens when a pet inherits money?

Contrary to popular belief, pets cannot directly inherit any money or property through wills. After all, they can't spend it. You can, however, leave money or property to the person(s) or organization(s) that will take care of your pet(s) once you pass away.

US Legal Forms
Localized Forms
Florida
Miami-Dade
Bequest in Trust for the Care and Maintenance of Pet (Long Form)

Miami-Dade Florida Bequest in Trust for the Care and Maintenance of Pet (Long Form)

Category:

Trusts - Animals

State:

Multi-State

County:

Miami-Dade

Control #:

US-01382BG

Format:

Instant download

Description

Bequest in Trust for the Care and Maintenance of Pet (Long Form)

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FAQ

Here are some options: Leave your pet (with some money) to someone in your will or living trust. Create a pet trust to leave money for the care of your animal. Sign up with a charitable organization's program to provide or find a home for your animal.

You can't list your pet as a life insurance beneficiary, but you can list a caretaker or guardian of your pet as the beneficiary. A pet trust that your life insurance policy pays into would ensure that the funds you've left behind for your pet are used according to your wishes.

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.

Trouble owed her coddled lifestyle to her former owner, New York Hotel heiress Leona Helmsley, who died in 2007 and turned her back on relatives to bequeath the bulk of her estate, $12 million, to her dog. Helmsley bought the beloved pet for comfort after the death of her husband, billionaire hotelier Harry Helmsley.

Pet trusts are established so that part of the estate can go towards the care of the person's pets after the death of that person and it will be enforceable in court. The grantor is the person whose will creates the trust. The trustee is the person who manages the assets in the trust, and the beneficiary is the pet.

No, a pet can't receive a life insurance death benefit. Instead, you can name a caretaker you trust as your policy's beneficiary who can use the money to take care of your pet.

Like many people, you probably consider your pets to be a part of your family and want to make sure they're taken care of after you're gone. But in the eyes of the law, pets are considered property, and you can't use your will to leave them an inheritance.

Contrary to popular belief, pets cannot directly inherit any money or property through wills. After all, they can't spend it. You can, however, leave money or property to the person(s) or organization(s) that will take care of your pet(s) once you pass away.

From a strictly legal perspective, pets fall within the category of personal possessions. This means that you can gift them to someone else and make arrangements for them in your Will. There are clear benefits to having a plan for your four-legged friend.

Miami-Dade Florida Bequest in Trust for the Care and Maintenance of Pet (Long Form)

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