You may have seen headlines recently claiming that the late Diane Keaton left $5 million to her beloved dog, Reggie. The truth is that no details of her will have been made public. According to this estate-planning article discussing the rumor, the story appears to be speculation rather than confirmed fact.

That said, the idea itself isn’t all that unusual. Pet trusts are becoming more common, and most states now recognize them. Since pets are considered property under the law, they can’t inherit money directly. Instead, a pet trust allows you to set aside funds and name someone you trust to manage those funds for your pet’s care.

A well-written pet trust spells out which pets are covered, who’s in charge of the money, and what that money can be used for. This can include things like vet visits, grooming, boarding, or special diets. Some people keep it simple, while others want to make sure their pets continue living a very comfortable lifestyle.

The article also points out that while many pet owners still leave their animals to a trusted friend or family member along with a lump sum, more people are choosing formal pet trusts for added clarity and peace of mind. 

Whether or not Diane Keaton actually set up a pet trust, the takeaway is simple: estate planning isn’t just about people. It’s about making sure everything you care about, including your pets, is protected.

If you’re thinking about adding a pet trust or updating your estate plan, Rhodes Law Firm can help make the process easy. Reach out today to start a plan that fits your life and gives you peace of mind.