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October 27, 2009 04:57 PM
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Why not part of my fortune? I don't know that I would ever have a pet as a "primary" beneficiary, but I would want to know that my pet would not starve to death or be put down simply because I died.
The tough part is doing it correctly, ie a trust fund that will pay out to the pampered pooch or feline. Include a generous stipend (the majority) for the care taker and define who the care taker should be. After all this is likely to be a friend.
What about when that animal dies? If the care money is likely to outlast the pet consider any remainder going to a shelter, in your pet's name ^_^
The tough part is doing it correctly, ie a trust fund that will pay out to the pampered pooch or feline. Include a generous stipend (the majority) for the care taker and define who the care taker should be. After all this is likely to be a friend.
What about when that animal dies? If the care money is likely to outlast the pet consider any remainder going to a shelter, in your pet's name ^_^
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October 27, 2009 02:24 AM
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If you make the animal the direct beneficiary, who will be the trustee? I mean, won't someone need to manage the finances? Or oversee the trust? Dogs have no opposable thumbs, so wouldn't that make it tough to pay the mortgage on their doggie mansions, etc? Who would hire staff to drive the dog to the park? Hmmm. It would certainly need to be a human you trusted implicitly. Pretty sweet job - overseeing a dog trust. Where do I apply?
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October 27, 2009 04:41 AM
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What would be the point? Pets have simple needs. I'm not a dog owner, but I do own a cat. My cat needs food, water, toys, litter, and companionship. What would she do with, say, my clothes, except to use them for places to sleep? What would she do with money, except bat it around and maybe tear it up? (That's not even to count abstract assets like bank accounts and the like.) And, more importantly, what will my cat do if I'm not around? All the fortune in the world wouldn't help.
I'd leave my fortune to a friend, instead, and leave my pets to someone I know will take good care of them. That way, everyone gets what will make them happy.
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I'd leave my fortune to a friend, instead, and leave my pets to someone I know will take good care of them. That way, everyone gets what will make them happy.
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October 27, 2009 11:22 AM
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I'd find a friend who I could trust with my pet's welfare after I'd died, and leave him enough to provide what my pet needed for the rest of its life. The rest would go to a reputable charity for good works. What's a dog or cat gonna do with all that money? All they really need is enough food and place to live, someone to love them. And if my friend broke my trust and didn't care for my pet and spent all the money on himself, well, I'd be gone and have to let the good Lord deal with him as He saw fit.
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October 27, 2009 09:41 PM
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Primary beneficiary?? No chance.
The furthest I'd go would be to make sure that my pet would be taken care of, but beyond that no.
Assuming that I have a reasonable estate to leave I'd want the wold to be a hapier place after i'd gone. And for this I'd be looking at charities, trusts, scholarships, projects... anything that I could set up or contribute to that will do this.
I like cats, and I wouldn't want mine to go hungry, but once it has a lifetime supply of cat food and cat toys then it really doesn't need an investment portfolio
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The furthest I'd go would be to make sure that my pet would be taken care of, but beyond that no.
Assuming that I have a reasonable estate to leave I'd want the wold to be a hapier place after i'd gone. And for this I'd be looking at charities, trusts, scholarships, projects... anything that I could set up or contribute to that will do this.
I like cats, and I wouldn't want mine to go hungry, but once it has a lifetime supply of cat food and cat toys then it really doesn't need an investment portfolio
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