It is always interesting how the laws in different countries can be so similar and yet so different at the same time. In estate law, most European countries have fairly similar laws to what we have in the United States. We can read their laws and read news stories about estates in European countries and have a good idea of what is going on. But, there are always important differences.
For example, in Italy a wealthy woman recently left her entire estate to her dog. Italian law, however, does not provide for giving money to animals. It is not allowed. The woman had to craft a Will and name an Executor who will administer her estate in the interests of her dog. It is a complicated process. In the United States, the process is much simpler. All you need to do is to create a Pet Trust. The money in the Trust will be used by the Trustee for your pet. It is simple and there is no need for court involvement.
If you have a pet that you want to leave money to, contact an estate planning attorney. Take advantage of the relative ease of American law in this regard.
- Thought of the Day - February 1, 2023
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