Month: September 2016

Pets in a Will – how do you make sure that your pets are cared for?

Should You Make Provision for Your Pets in a Will?

We have all seen the stories of eccentric millionaires who leave their fortune to their pets in a Will. Their relatives are cut out of the Will, but Fido receives a very generous legacy. But it’s not as easy as you may think to leave something to your pets in a Will.

One of the most famous of these cases is that of billionaire Leona Helmsley’s dog. He was the lucky pooch who inherited $12 million from her estate. The Maltese dog, perhaps appropriately named “Trouble” was one of the major benefactors of her estate. Some of the family members weren’t quite so fortunate. Two grandchildren received nothing, and Leona evicted her son’s widow after his death.  Trouble did not get quite as much money as he bargained for as a judge later reduced the amount to $2 million. The grandchildren who Leona excluded were awarded $6 million and the balance went to charity.

Leona Helmsley earned the title of “Queen of Mean” during her lifetime. She served 18 months in prison for tax evasion. Unfortunately, her gift to her dog made Trouble the most hated dog in the country. He is said to have received numerous death and kidnapping threats, so had to have a permanent security guard with him.  He lived in style, but only spent about $190,000 a year. Most of that was on his security detail. Although we are sure there was plenty left over for grooming and food. Continue reading →

How to write a Will – key steps to successfully writing your Will

Do you want to know how to write a Will? Even though writing a Will is one of the most important things that everyone ought to do, most of us are very good at avoiding the issue. Most people put off the task of writing a Will, even though it is one of the most important things that we can do for our family.

The one thing that you should not be apprehensive about is that you do not know how to write a Will. There are plenty of resources out there to help you.

None of us really wants to think about our own demise, so putting off writing a Will seems like the easier option. Unfortunately, the reality is that if we don’t deal with the task of writing a Will, we leave our loved ones with huge potential difficulties.

Most people don’t make a Will – but you should not use this as an excuse! Writing a Will ought to be a very painless process and it can be quite affordable. Do not worry that you do not know how to write a Will. Continue reading →