We’ve discussed pet trusts before, but here is a tale guaranteed to make your fur stand on end, if you’re a cat. An older woman in a nursing home wanted to ensure that her cat was well taken care of after she was gone, so she planned to set up a $450,000 trust fund for its benefit. Not Leona Helmsley money, but probably sufficient. Some “friends” offered to care for the cat, and are now accused of having used that relationship to loot the funds that were to be used for Purdy Cat, as it was called. The lesson here is to be careful to whom you entrust funds to care for your animals. The safest course is to have the funds held by someone other than the caregiver. It also provides evidence of the serious problem of elder financial abuse that we see occurring in the aging population.
Comments are closed.