I need to put a cast iron codicil into my will that will purposely exclude family, friends, tax man and any other hangers on from trying to grab any of my estate after my death. The sole beneficiary of my will can only be my dog.
Obviously dogs have no need of money. But I would like to ensure that my girl goes to a loving new home without her new owner initially knowing that she is considerably wealthy.
Any advice on how to instigate both of the above would be gratefully appreciated.
2006-12-05 10:18:06 · 18 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
It has been done. You will have to leave everything on trust to the dog during her lifetime and be careful to appoint trustees who are not relatives, otherwise your relatives will get to live in your home and use all your things while caring for the dog. As you like the idea of your dog moving anyway, maybe you could direct that everything be sold and the proceeds applied to the care of your dog. You will have to be careful to make a "gift over" so that when the dog dies, everything passes to the charity of your choice. That means that ultimately you will be obliged to pass your estate to other beneficiaries. The taxman is going to benefit enormously from your estate because your charitable giving isn't immediately upon your death. (You speak of considerable wealth). It might, on balance, be better to leave your estate to an animal charity on condition that they care for your girl. I'm sure the Wood Green Animal Shelter could arrange that!
2006-12-06 02:05:19 · answer #1 · answered by Doethineb 7 · 0⤊ 0⤋
Get a new dog. It's easier. Stop letting the grass grow under your feet. He is just that - only a friend - if he does not acknowledge you or show you the respect you deserve. He hasn't really done much for you all these years and doesn't want to devise you as a beneficiary? He is not worth any more of your precious time. There are other men who will appreciate you and your thoughtfulness without a blink of an eye and thank you every day for just being.
2016-03-13 03:48:18 · answer #2 · answered by Ellen 3 · 0⤊ 0⤋
You can make your dog your beneficiary, but that won't stop someone stealing the dog's money.
Decide who you want to look after your dog. Set up a will settlement with that person as trustee, allowing them to use the money solely for the maintenance and benefit of your dog. Name a charity to receive any funds left over when the dog dies.
2006-12-05 10:22:58 · answer #3 · answered by Anonymous · 0⤊ 0⤋
In England and Wales, you can leave money to be used for the benefit of your dog. Your will needs to appoint a "trustee" to look after the fund - dogs don't have bank accounts. However, you will need to say what happens to the dog's "trust fund" when she has gone to the big kennel in the sky. Maybe the fund could then pass to the local Dog's Home.
However, certain close relatives can sometimes challenge a will on the ground that it doesn't make reasonable provision for them. Then, much of your estate may go to the lawyers.Decide whether that is preferable to your family getting it.
Sadly, you can't write the tax man out of your will!
2006-12-05 20:17:21 · answer #4 · answered by andrew f 4 · 0⤊ 0⤋
You can't make your dog a beneficiary of the will, but you can leave it to a trust for the benefit of your dog. I think you will have to choose the person who will own the dog. A lawyer will set it up.
2006-12-05 10:44:11 · answer #5 · answered by Tara P 5 · 0⤊ 0⤋
Contact a lawyer. I think making animals beneficiaries of wills are a tall-tale. I do not think anybody really does this. It doesn't make sense for you to put your $ in your dog's name. I mean what happens when the dog dies? How will the dog pay taxes? It is just impractical. Why don't you distribute your money into charities... I bet your money-grubbing family and friends would despise that. Plus, it makes you a better person.
2006-12-05 10:22:47 · answer #6 · answered by Anonymous · 0⤊ 1⤋
I think you would have to set up a resulting trust with the beneficiary only receiving the income if they look after the dog. check it as it is 30 years since I did trusts
2006-12-05 10:22:22 · answer #7 · answered by Maid Angela 7 · 0⤊ 0⤋
In California you can leave money to an animal benefit trust under your will for your beloved horse, dog, cat, wombat. The trustee is to apply the funds to provide for the animal's benefit during its life. On its death, the money has to be left to someone or something. Usually the donor selects an animal shelter that is a qualified charity or the donor sets up foundation or leaves the funds to a community foundation to disperse the funds among charities engaged in animal rescue work at the time of his or her death.
2006-12-05 12:36:50 · answer #8 · answered by mattapan26 7 · 0⤊ 0⤋
if as you say, you do have a considerable amount to leave behind, then why not leave it to designated charities? lots of animal charities
would be delighted and could use the money to great effect and benifit for many uses. set an amount aside to be spent only on your beloved pet and then your money could spread a lot of joy whilst also seeing your little one is well cared for.......if you leave it only to your pet you can bet it will be exploited and mis-used
2006-12-05 10:27:42 · answer #9 · answered by PAIGE_ROSE 2 · 0⤊ 0⤋
Good plan. I would actually give the money to a house plant though as I think your dog may become too greedy if you leave it too much walth.
2006-12-05 10:26:59 · answer #10 · answered by monkeymanelvis 7 · 0⤊ 0⤋