British banking big bucks to care for pets after they're gone
British pet owners plan to bequeath about $40 billion to their furry companions, and most will do so without telling their family or friends, according to a new study. News agency AFP reports that late fashion designer Alexander McQueen left about $80,000 in his will for the care of his dogs. And he’s not the only one. A survey of 14,181 pet owners by More Than Pet Insurance discovered that 27 percent have already included their pet in their wills or intend to do so.
Of those people, 35 percent plan to leave their pets more than $15,000 in their wills, with 37 percent admitting they intend to leave more to their companion animal than to a close relative or family friend. Around 21 percent plan to leave their pets the family home. Half of pet owners who included pets in their wills said they did so because they did not want their pet to end up in a shelter.
When considering their pet’s future, 70 percent of pet owners made arrangements with family, friends and neighbors, while 19 percent intend to make provision in their will for a full-time pet sitter. Sentimental items that pets are in line to inherit include a pet’s favorite sofa or armchair, photos of the pet and owner together, an item of clothing or a pair of shoes, jewelry, and even the owner’s ashes.
If you haven’t made provisions for your pets for after you’re gone, perhaps it’s time to do so. You have $80,000 just sitting around, right?