Cockatiels and Trust Funds

Posted on Sep 17, 2015 in Estate Planning | Comments Off on Cockatiels and Trust Funds

Cockatiels and Trust Funds

We have posted a few times here on the GQ Law blog about the possibility of setting up a Pet Trust, a special trust that can set aside money and care plans for your beloved pets after your death. You learn about Pet Trusts in this post and read about Joan Rivers’ pet trust on our blog here.

pet trust

Another pet trust made national headlines recently as late billionaire Leslie Ann Mandel left $100,000 to her pet cockatiels upon her passing in June 2015. According to an article in Time, Mandel founded The Rich List Company and her estate totaled $5.3 million.

Mandel listed her step-son as trustee of the estate and left detailed instructions for the continued care of each of her 32 pet cockatiels. She also left instructions to care for her rescue dog, Frosty, and cat, Kiki.

The Time article quotes her Will ““It is my wish that the birds be fed and the building cleaned each Monday and Thursday and their food shall be purchased from Avi-Cakes, carrots, water and popcorn.”

Even with such painstaking detail on the care of the birds, her estate is not left without dispute. A 2005 copy of her Will leaves most everything to her husband and step son but her sister has a copy in which their names are crossed out and replaced with hers, claiming it was singed in 2006. They will be seen in court next month and in the meantime, the birds will have to wait to receive their enormous “nest egg.” You can read more about the Will in the New York Post article here.

Make sure your loved ones, birds, cats, dogs, husbands, step sons and sisters are all left with clear expectations about what will happen when you go. Make an appointment with our office today to set up or update your complete Estate Plan. Call us at 858-549-8600 for your free consultaiton.

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