Washington Times: You don’t have to be Leona Helmsley to want the best for your pet after you die.
Helmsley left her dog, Trouble, $12 million when she passed away in 2007. A judge cut the award to $2 million and awarded some of the money to her grandchildren, but the Maltese still lived a life of luxury until his death in December. The dog’s death was announced this month by the Helmsley trust.
Pet estate planning has grown since Helmsley’s will made headlines. Today, there are retirement homes for pets across the country, and at least 45 states allow for pet trusts. A pet trust is an agreement that specifies how an owner wants a pet to be cared for, including details on who will be responsible for the animal and how the care will be paid for.