Legal Hypothetical: Special arrangements for a special friend

 

Special arrangements for a special friend

AMY is quite fond of her Jack Russell terrier, Rosey.

As part of her estate planning, Amy wishes to ensure that Rosey is looked-after.

She is advised by her solicitor that unless there are specific provisions in her will, Rosey forms part of the ‘residue’ of her estate and becomes the property of her residuary beneficiaries.

This can cause difficulties if there are multiple beneficiaries and further complications can arise regarding the cost of Rosey’s care.

Amy decides that it is best for Rosey, her executor and her beneficiaries for her to make special provisions for Rosey in her will.

Amy instructs her solicitor to include a provision in her will to permit her friend, David to reside in her home and to care for Rosey during her lifetime.

Under her will, Amy also gives her executor the sum of $50,000 to be used to pay for the outgoings and the upkeep of the property as well as providing funds to meet Rosey’s expenses, including her medical and dental treatment.

Her executor is granted the discretion to apply these funds for Rosey’s care as her executor deems appropriate and to distribute any surplus funds to her residuary beneficiaries upon Rosey’s death.

Amy’s solicitor recommends that Amy ensures that Rosey is microchipped and that her executor is directed to ensure that Rosey is provided with annual check-ups and scans by a veterinarian to ensure that it is in fact Rosey who resides in her home as there have been instances in the past where a pet has been replaced by a ‘look-a-like’.

The solicitor also explains the importance of appointing an independent executor who can monitor Rosey and David to ensure her wishes are respected and her home ultimately realised and distributed to her residuary beneficiaries.

Thank you to AD for your request.

If YOU would like a particular issue addressed, please email Manny at [email protected] or call him on (02) 6648 7487.

 

By Manny WOOD, Solicitor

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