Arkansas residents – individuals and families alike – love and cherish the pets with whom they share their lives. So too did Karl Lagerfeld concerning Choupette, his beloved cat.
And care providers routinely ensure that their dogs, cats, horses and other loved animals routinely receive the care they need to thrive. Ditto for Lagerfeld while he was alive.
Lagerfeld died last week. The iconic and globally known fashion designer showered affection on his feline companion during his life, and he coupled that attention with something additional, namely this: provision of a media-described “fortune” comprising “a chunk of the designer’s estimated $300 million net worth.”
We suspect that most readers of our Arkansas legal blog aren’t contemplating something similar.
If you’re reading this, though, we know that you would take exception to the view that Lagerfeld loved Choupette any more than you do your pet. Money is nice, sure, but love is, well, love. It’s likely that most pets in Arkansas and across the United States are revered every bit as much as uber-pampered pets like Choupette.
Although details haven’t publicly emerged regarding the legalities surrounding care provisions in Choupette’s case (French and German law applications have been noted), relevant requirements were undoubtedly spotlighted and adequately responded to.
It’s essentially the same for loving pet owners with more modest holdings than an international fashion icon, just a bit more toned down. There are various outcomes that planners can fashion regarding the continued love and care of their pets in the future, including increasingly common pet trusts.
Americans love their pets, and it is flatly natural that they would seek to ensure their continued care throughout life through implementation of a sound and tailored strategy. A proven estate planning lawyer can provide guidance on how to do that.