In an article exploring options for estate planning for pets, Jackson Walker partner Scott A. Schepps discusses extravagant pet inheritances and his experience helping clients manage their assets.
During his more than 25 years practicing estate law, Scott has helped many clients whose final wish was to leave their estates to their pets, including a matter in which a $1 million residence became a large feline house for over 10 cats.
“Most pet parents believe their pets will outlive them,” Scott said. “The ‘caretaker’ was paid $50,000 per year to live in the home with the cats.”
To read the full article, view The New York Times’ “The Pets Are All Right (Even Though You’re Gone)” (subscription required).
Scott A. Schepps is a partner in the Houston office. He has helped clients structure their estates so that assets pass in a manner that meets their desires, reduces the potential for conflict, and minimizes gift, estate, and income taxes. His clients include closely held business owners, corporate executives, real estate developers, and private equity firm principals. Scott’s practice covers most aspects of wealth planning and probate, including the preparation of wills, incapacity documents, and revocable and irrevocable trusts. Scott is also Board Certified in Estate Planning and Probate Law by the Texas Board of Legal Specialization.