It has become increasingly popular for the ultra-wealthy to leave behind millions for their beloved pets to be able to maintain their upper-class lifestyles after their owners pass away.
Karl Lagerfeld’s cat Choupette is now back in the news as the 2023 Met Gala dress code was “in honor of Karl” as a tribute to the designer Karl Lagerfeld and questions still circle around how Chouppy is enjoying such a posh lifestyle.
The late designer, who passed away in 2019, left his beloved cream Birman cat a reported $1.6M but because of differing international laws, it’s not clear how exactly Choupette gets her paws on the inheritance.
The logistics of leaving cash to a pet is a gray area in France, where Choupette resides. There, pets are considered property and cannot be named as a beneficiary of an estate so they cannot inherit. However, in Germany, where Lagerfeld was born, one can leave money behind for an animal directly as an inheritance. There has also been some speculation that Lagerfeld could have left the money to a foundation, or a nonprofit with stipulations that the money be used for Choupette’s care.
Regardless of how Lagerfeld left the money for Choupette, the little kitty has been living the high life since his passing. If you don’t believe me, check out her Instagram page!
Now, you may not have $1.6M to leave to your furry family members but if you are at all interested in how to protect your pets after you pass away you can read our article here.
This article is a service of Trust Counsel, PL. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.
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