Should dogs pay the 'death tax'?

Question

Leona Hemsley left $12 million to her dog. Should that poor little poochie-woochie have to pay the death tax?

http://biz.yahoo.com/ap/070829/helmsley_s_pooch.html?.v=1

Answer 1

Believe me -- this dog's lawyer will find a loophole !!
The wealthy DO NOT pay taxes --- all other dogs pay !!!

Answer 2

Good question! Usually a guardian is appointed to the pet and that person will have to pay the taxes.. even the death tax. Pets being left a large sum of money like that is generally to insure that the pet is cared for in its accustomed manner until it dies. Then the deceased usually has a clause in their will stating that the remainder of the funds go to others or a charity.

Answer 3

While I applaud anyone who makes provision in their will for the care of their pets after they die, I personally think this lady was a few beers short of a six-pack in her bequests. While I don't think that her grandchildren are necessarily owed something, it strikes me as very cruel for her to single out two of the grandchildren to get nothing.

It also seems to me that the dog could have been provided for with a lot less money, and some of that $12 million could go to legitimate animal welfare causes that would improve the lives of lots of animals.

But it's her money, and in a free country she can will it how she wants to.

I'll bet dollars to donuts, though, that the two grandchildren who were passed over challenge the will, and that her bequest to the dog is used as evidence that she was not of sound mind when she made her bequests.

Answer 4

No, is was an inheritance. It was a trust fund for it's keep.

Frankly, the whole thing's quite farcical IMHO.

That said, she left a lot to charity, so it could have been worse.

Answer 5

I can't write my pets as dependents, so .... Uncle SAM I'm sure has his hands out already, if not now on April 15 he will.

Answer 6

Since when do pets pay anything?