View related news articles
Karl Lagerfeld, the three-decade Chanel creative director passed away in Paris at the age of 85 last month. According to a French magazine, Lagerfeld’s famous cat, Choupette, is likely to inherit a large proportion of Lagerfeld’s fortune under German law. The estate is estimated to be between $195 million and $300 million.
With dozens of photos posted on social media of her enjoying a jet-set lifestyle travelling at Lagerfeld’s side, Choupette has become a social media legend. She now has over 200,000 followers on her very own Twitter and Instagram accounts, has her own personal bodyguard, her very own chef and two maids that all cater to her glamorous lifestyle as a celebrity feline.
According to Compare the Market, Choupette has a current net worth of $3.5 million which she earnt from her own modelling career and even has her own bank account. It is reported, however, that even if Choupette inherited all of Lagerfeld’s fortune, she still would not be the richest pet in the world! According to the Pet Rich List 2018, that title belongs to a German Shepherd called Gunther IV, who inherited the late Liebenstein’s $400 million fortune. Still, a potential $300 million is not to be sniffed at, even if Choupette is completely unaware of it!
Lagerfeld’s death brings an end to a remarkable 64 year career creating clothes for the world’s most famous women. Following her designer owner’s death there will likely be no shortage of volunteers to take care of one of the world’s most fashionable cats. Under German Law, an inheritance arrangement is feasible as Choupette was nominated the ‘heir’ to Lagerfeld’s fortune.
Although you can make will provisions for pets in the UK, they cannot directly inherit funds as they are classed as personal property. The pet themselves however, can be gifted to others.
Some of the ways to provide for your pets on death include:
For more information about making provision for your pets on death, contact our Wills, Trusts & Probate team or call us on 0161 941 4000.