Christopher Burns Discusses Estate Planning for the World’s Wealthiest Pets
February 22, 2019
Lifestyle of the Rich, Famous and Furry
Christopher Burns made a guest appearance on Bloomberg’s What’d You Miss discussing fashion designer, Karl Lagerfeld’s sizable inheritance for his cat. Choupette, has become famous in her own right with nearly 300,000 followers on Instagram and is speculated to be at least a partial beneficiary of Lagerfeld’s estimated $200 million dollar fortune.
Burns said the vehicle he recommended for clients looking to provide for pets after their own death was naming a custodian for the animal and a trustee to oversee the inheritance. “It’s important to have that check and balance,” he said. “With a custodian and a trustee, I encourage clients to never name the same individual to take care of the animal as well as to watch the animal’s finances.”