Maria Assunta, Tommasso's owner, recently passed away at the age of 94. Maria was the wife of a wealthy Italian property tycoon. She did not have any children.
Maria left her entire estate to Tommasso, via her nurse, because she could not find a group that could take care of Tommasso. Maria's estate is valued at $13 million dollars, which includes cash and properties in Rome, Milan, and Calabria. This brings new meaning to the old saying "dogs have masters, cats have servants."
While uncommon, individuals can make provisions in the their estate plans for their beloved four legged friends. This can be accomplished be setting aside a sum of money in trust for their pets, with instructions to the caretaker that the money to be used for their care and maintenance. Under these circumstances, individuals need to appoint a custodian for their pet, much like people do with minor children. Additionally, the individual can stipulate where the remaining assets, if any, will go, when their pet passes away.
If you want to make arrangements for your pets to be taken care of after your passing, or if you don't have any pets and still need an estate plan to ensure your wishes are followed after your passing, contact the experienced Michigan estate planning attorneys at Barsch & Joswick to schedule at complimentary consultation.