Man’s best friend is set to profit from years of dedicated service with a generous payout on their owner’s demise.
Research from Direct Line Pet Insurance shows that the UK’s pets will inherit a fortune when their owners die as one in five pet owners will donate more than half of their worldly goods to ensure their pets future.
Many pampered pets stand to become the head of their household as six per cent of pet owners will bestow their homes on their favourite animals. A further eight per cent will leave more to their furry friends than their loved ones.
More than half (54 per cent)
will request their pet has the run of their current house with round-the-clock professional care, while a third (30 per cent) will give family members inheritance money to specifically care for their pets.
Over half of owners (52 per cent) have already included their favourite pet in their wishes, but of those who haven’t 86 per cent are considering adjusting their wills to benefit their four-legged friends.
Chris Price, Business Manager at Direct Line Pet Insurance, said:
“It’s a dog’s life is set to take on a whole new meaning as pampered pets inherit large shares of the family fortune – guaranteeing them a life of luxury. And this trend of priceless pets is set to continue as more than a quarter (28 per cent) of respondents believe animals should be viewed as equal to all other family members and hence included even more in their wills. But for some pets it could turn into a life of misery, as many of the less fortunate don’t even have insurance to cover minor illnesses.”
Yet despite the dogged devotion demonstrated by owners’ last wishes, only 15 per cent have adequate pet insurance to cover unexpected visits to the vet during their lifetime.
Have you made provisions for your pets in your will? Have your say below!