Why it really is a dog’s life!

For anyone trying to plan their finances for old age and beyond, the news that an American hotel tycoon has left £6 million to her pet dog and nothing to her two of her grandchildren is sure to have got the blood boiling.

But Leona Helmsley, also known as the Queen of Mean, is by no means the first mega-rich person to echo George Orwell’s famous line from Animal Farm – four legs good, two legs bad.

Indeed, Ms Helmsley’s bequest might be considered parsimonious when compared with that of the late Countess Carlotta Leibenstein. Having died in 1991, the uber-rich Countess’s last will and testament bequeathed her entire $80 million fortune to her dog, Gunther III.

How Gunther III felt, several years later, about having to share his good luck with his one and only offspring, Gunther IV, is unknown. Word has it Gunther IV continues to live in the lap of luxury, enjoying the services of a personal maid and chauffeur, and access to his own custom-built swimming pool.

Another American heiress with a thing for dogs was Doris Duke. Born in 1912, Ms Duke was the only child of tobacco and electric energy tycoon, James Buchanan Duke. On his death in 1925, Doris inherited a cool $100 million (equivalent to about $1 billion today).

Doris eventually died in 1980, leaving virtually all of her fortune to a charitable foundation. But she still managed to find a spare $100,000 to put into a trust which she set up specially to care for her beloved pet dog.

Still in Europe, in 2000 an unnamed Danish woman of 83 years was reported to have left $60,000 to Jimmy, Trunte, Fifi, Trine, Grinni and Gigi. No, they weren’t her children or grandchildren, but six chimpanzees at Copenhagen Zoo. A lawyer was even despatched to the zoo to read the will aloud to the chimps in their cage, wryly commenting after that none of the six had disputed it.

One will that may have caused fur to fly is that of Catherine Olberg. Ms Olberg, who died aged 74, left her home and possessions to both her pet dogs and cats. Elsewhere, bears in a Swiss zoo have been the lucky recipients of a small fortune, while a Cuban parakeet and a cocker spaniel were given £3,000 to share, a bequest that was challenged unsuccessfully by the deceased’s relatives.

The legal status of such pet bequests remains cloudy. One American state, Hawaii, tried to clear things up in 2005 when it passed a law allowing animal lovers to leave money in a trust for the care of their dog, cat, or other domestic animal.

According to Associated Press, before the measure was signed into law there was no solid legal way in Hawaii to entrust money to a pet. The law also allows a court to reduce the amount transferred to a trust if it determines that the amount substantially exceeds what is required.

Such infatuation with animals isn’t reserved to the over 50s, however. Paula Yates found a curious way to show her love of animals from beyond the grave, or rather, in it, by being buried in her favourite bikini – made of white mink fur.

There are of, course, easier and more family-friendly ways to show one’s love for ones pets, as shown by the growing popularity of pet insurance policies.

And no wonder! With even routine treatments costing many hundreds of pounds and more complex procedures running in to the thousands, it’s not surprising that more and more responsible pet owners are arranging health care insurance for their beloved four-legged friends.

But beware, not all pet policies are the same. Some companies charge all of their customers the same price and will only pay out on a condition for a short period. Others, like over-50s insurance specialist Castle Cover, have developed sophisticated rating systems so that premiums are based on the pet’s breed and age, as well as many other factors.

Clearly, just as you shouldn’t buy the first doggie that you see in the window, when it comes to caring for your devoted dog or cuddlesome cat, it pays to shop around.