Life insurance for pets

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PostPosted: Sat Sep 08, 2007 6:06 pm   Post subject: Life insurance for pets  

I was talking to mt brother-in-law about our pets.I have 2 cats an he has 4 dogs an 5 cats.Which him an his wife keeps indoors.He is a salesperson for frito-lay an his wife works at home doing medical transcript.So they have plenty of money an life insurance on themselves. They have no Kids at all, they are in their 40s.He was telling me that all of his life insurance money will go to the humane Society when he dies.Which he said the amount would be around $300.000.I think the money should go to more like cancer research or other good charities.But still donate some to humane society cause they need money just as well to keep the animal shelters open an save the animals.Would you leave your life insurance to your pets? lol What was funny he never anything said about his wife being in the his will.I guess he loves his pets more.

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PostPosted: Tue Sep 11, 2007 11:58 am   Post subject: life insurance for pets  

No I wouldn't leave my money to my pets although I love them very much , but I have children too, even if I didn't I have nieces/nephews etc, that I think would be my second choice after my spouse. Oh, he's probably got his charity or pets set up second to his wife, or contingent beneficiary I bet.

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PostPosted: Fri Dec 14, 2007 4:22 am   Post subject:   

Heh, thats quite the story, I've heard of people naming pets in a will but giving the humane society 300k? Thats a good deed right there. Like they say, you can't take it with you, but you can give it to those that need it.



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PostPosted: Fri Dec 14, 2007 4:58 am   Post subject:   

Quote:
I was talking to mt brother-in-law about our pets.I have 2 cats an he has 4 dogs an 5 cats.Which him an his wife keeps indoors.He is a salesperson for frito-lay an his wife works at home doing medical transcript.So they have plenty of money an life insurance on themselfs. They have no Kids at all, they are in their 40s.He was telling me that all of his life insurance money will go to the humane Society when he dies.Which he said the amount would be around $300.000.I think the money should go to more like cancer research or other good charities.But still donate some to humane soceity cause they need money just as well to keep the animal shelters open an save the animals.Would you leave your life insurance to your pets? lol What was funny he never anything said about his wife being in the his will.I guess he loves his pets more.




I can't imagine why anyone would want to leave that kind of money to animals. Don't get me wrong, I love my pets very much! Perhaps he was just pulling your leg - or his wife's! Laughing



I'd be leaving it to family first and foremost like Lori. I know they'd take care of our pets if anything happened to us since they love them as much as we do, so that wouldn't be an issue.
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PostPosted: Wed Jan 02, 2008 8:10 pm   Post subject:   

Some people are of the mind set that what money they can't take with them they are not going to give their children. This is the type of mindset that says I earned my money and when I go if my kids want to have the same amount of money then they need to work for it.



Personally I would give the majority of my money to my family and maybe 5 to 10% to a charity. But then I am the type of person who has a college fund setup so I can help my neices and nephews out, and any grandchildren when they come.



A friend of the family has when she dies a stipulation that 20% of her estate goes to I believe it was a cancer related charity. Which for her net worth would come out to 200-400k and the rest is divided between her family.

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PostPosted: Thu Jan 03, 2008 2:46 am   Post subject:   

I would not leave it to pets ,rather I would leave it to loved ones who would care for my pats.

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PostPosted: Thu Jan 03, 2008 4:32 am   Post subject:   

For some reason I keep thinking of that pigeon that walks into a store grabs a bag of fritos and leaves. But in my head this time it has one of those quickpass cards attached to its leg and it swipes it before walking out.

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PostPosted: Thu Jan 03, 2008 5:38 am   Post subject:   

Quote:
They have no Kids at all, they are in their 40s.He was telling me that all of his life insurance money will go to the humane Society when he dies.Which he said the amount would be around $300.000.I think the money should go to more like cancer research or other good charities.But still donate some to humane soceity cause they need money just as well to keep the animal shelters open an save the animals.Would you leave your life insurance to your pets?




Life insurance for pets is interesting, but not unheard of in the least. What's interesting is the choice of charities, and the humane society is not unusual either. Very Happy I just like the idea. C'mon, what's wrong with taking care of animals? No kids, no other concerns, probably pretty well-off otherwise (an assumption)...so why not? As you said, animal shelters need the money, too.



That's not the first thought that came into my mind, however. Depending on how the money the money is structured and the manner in which the humane society receives it, it could result in a charitable deduction tax write-off for estate tax purposes. Hmmmm......... But! If they have no kids, do they have other people that they're leaving anything else to? If there's nobody else period, maybe charities are getting everything? Better that than the state in which they reside.



Just a thought.



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PostPosted: Thu Jan 03, 2008 5:19 pm   Post subject:   

Leaving the money to a shelter does not say that their pets will be taken care of.You said they had cats, what are they doing with their cats or maybe the cats will be long gone by then. If I was in that situation,I would leave my money to a homeless shelter.

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PostPosted: Thu Jan 03, 2008 6:28 pm   Post subject: Get life insurance for pets  

Okay guys let's think about this. We all have " those" members of our family.



If I have $1 million and a choice of whether I want to leave it to my Toy Rat Terrier or my stepbrother who lived with my parents until he was 41 (he didn't know what he wanted to do with his life) the dog is going to be living better than that Hilton chick's female poodle (bi_ch).



Maybe I would leave instructions in trust to have my dog make a large donation to charity. I would be laughing in my grave.



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PostPosted: Fri Jan 04, 2008 11:58 am   Post subject:   

Quote:
or my stepbrother who lived with my parents until he was 41 (he didn't know what he wanted to do with his life)
ShockedRolling EyesRolling Eyes sounds to me like stepbrother already ''got his''....... Wink
Quote:
the dog is going to be living better than that Hilton chick's female poodle (bi_ch).
LaughingVery Happy given these two choices I'm with you on that one! Wink


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PostPosted: Sat Jan 05, 2008 4:43 am   Post subject:   

I'd say move the stepbrother to the dog house and give the dog the stepbrothers room. I would actually have it stated if I was giving a large amount like that to a charity to setup a CURT with a family member as payee. That way I am help the charity and my family member.

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PostPosted: Tue Jan 29, 2008 9:35 pm   Post subject:   

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PostPosted: Tue Jan 29, 2008 10:00 pm   Post subject:   

Jean Jacques:



What the heck is this? A pleading for money? NOT THE PLACE!!! Oh, by the way...does the word literacy mean anything to you? As well, I don't think anyone in here feels that you are "12 years old" or whatever you said...thinkin' you may be a scam artist!



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PostPosted: Tue Jan 29, 2008 10:01 pm   Post subject:   

Don't spam on the forum!

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