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Maybe everything is certain after the fashion icon The death of Karl Lagerfeld On Tuesday, at the age of 85, her beloved cat, Choupette – a full-fledged celebrity – will continue to lead the lifestyle glitch she has been accustomed to under her care.
Choupette, a Burmese cat, is expected to inherit a share of the designer's estimated net worth of $ 300 million after writing it in his will in 2015, according to Le Figaro. Lagerfeld confirmed during an interview with Number last year that she, among others, would be the heir to his immense fortune. "Do not worry, there is enough for everyone," he says. Among the most admired traits of Choupette? "She does not speak," Lagerfeld told Numero in a previous interview.
Before Lagerfeld's death, Choupette, who has nearly 250,000 followers on Instagram, already had an income, appearing in advertisements for cars and beauty products. She had been appointed ambassador for the French manufacturer Opel, had been the subject of two books and had her own make-up line for Shu Uemura, according to Le Figaro.
"She has her little fortune, she is an heiress: if something happens to me, the person who will take care of it will not be in misery," Lagerfeld said. "It's a rich girl!"
Although Lagerfeld is German, the couple live in France, where the law prohibits pets from inheriting the fortune of their owners. German law, however, allows the transfer of wealth to an animal.
"In France, you can not name a pet as a beneficiary.To a beneficiary can receive an inheritance, he must act as a natural person or a foundation. "said Valerie Duane-Dray, a lawyer specializing in estate law in Hollywood, Florida.
She suspects Lagerfeld of having taken one of the three roads to make sure that Choupette, which means "Sweetheart" in English, will continue to be cherished after the creator's death.
He could have created a foundation whose sole mission is to take care of the cat and appoint a director who can receive funds provided that this money is used for the maintenance of the animal.
He could also have given the money to an existing non-profit organization and stipulated that the funds would be used to care for Choupette. Otherwise, he could have left Choupette to a trusted person with a cash gift for his care, said Duane-Dray.
It is not uncommon for pet owners to consider their furry friends in estate planning. "I have definitely recommended people to take certain steps by planning the transmission of their assets in order to take care of their pets," said Roger Ma Certified Financial Planner.
Succession laws in the United States vary, but still require that humans monitor the funds entrusted to a pet. The courts also have discretion. "There are reasonable limits to what you can leave a pet in. A court will not accept the request for millions of dollars and may reduce the confidence of a pet to a reasonable amount" said Jennifer Guimond-Quigley, estate planning lawyer.
Yet, it is not uncommon for an owner to bequeath a money that he can not even spend.
Billionaire real estate mogul Leona Helmsely raised eyebrows in 2007 and died. She left $ 12 million to her Maltese, Trouble. In 1991, German Countess Carlotta Liebenstein left her dog Gunther IV $ 80 million, which propelled her to the top of the list of "Pet Rich List".
The pampering habits of Lagerfeld's pets draw attention to what Ma said is an important conversation for pet owners.
"All pet owners must be careful not to neglect their furry friends when planning their estate," said Ma. "Not everyone has millions to give to his family. pet, but it helps us to ensure that there is a qualified caretaker whom you trust to make sure that he has a good home to go to and that you are funding their needs. "
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