$13 million dollars. That’s how much money ABC News reported a lonely, elderly woman named Maria Assunta left to her cat (Tommaso) when she died back in 2011.
Having no children, Maria sought out a way to ensure Tommaso the cat was appropriately cared for after she passed. But when her attorneys couldn’t find an acceptable organization to entrust the millions to, Maria decided to give Tommaso the money via her nurse, Stefania.
But that’s not the only pet to be awarded someone’s nest egg . . .
The daughter of a corporate-takeover tycoon once left her seven-bedroom, $8.3 million Miami mansion and a $3 million trust fund to her three pets – including a Chihuahua named Conchita. The New York Post reported that Gail Posner’s only living son contested her bequeathing of wealth to the family pets, with his lawyer claiming that Gail had a serious drug problem and suffered from bipolar disorder.
You can find several other examples of people leaving estates to their beloved pets online. Many of these stories involve shady characters convincing the wealthy to leave money to “their pets.” After all, those looking after the pets need the resources to properly care for the loved mutts, right? Ha. I wonder if those pets are exempt from taxation . . . .
Everyone Needs a Will
The last thing you want when you’re mentally ill is for your butler to convince you that they need money to take care of Fido. So while you’re still competent, perhaps it’s time to set up your will?
This is a call – albeit from unusual cases – to get your estate in order!
Seriously, create a will online and make sure that your guinea pig stays safe from the IRS and your kids don’t have to end up suing your cat for their slice of the inheritance.
Parents, Get Life Insurance
For parents, setting up a will is a must-do. Make sure you designate a guardian you trust, or the state could end up making that decision. This is a no-brainer. It’s the best way to ensure your kids are taken care of properly if the worst-case scenario unfolds.
In addition, even non-working parents should get life insurance. When you think about the way childcare costs would spike up if something were to happen to a stay-at-home parent, you’ll see why every parent needs live insurance.
How Safe is Your Guinea Pig from the IRS?
The answer is probably, “really safe.” (As much as you’d like to believe it, he’s not a person.) But don’t let yourself get duped into leaving all your money to him! Be smart. Get a will today – and don’t let anyone deceive you into sharing your hard-earned money with crooks . . . or pets for that matter.
Don’t have a basement full of dollar bills to bequeath? Perhaps it’s time to consider some ways to increase your income. Can’t find a job? Make one yourself! You’ll be sitting on piles of money in no time – maybe.
Have you set up a will? Did you do it online or with a lawyer? Do you have any tips for doing it cheaply and easily? Please share your experiences and ideas about this topic in the comments below.