For UBS marketing purposes A purse inspired by Karl Lagerfeld's cat, Choupette, at a storefront on Boulevard Saint Germain in Paris, France, from 2015. (ddp). Estate planning Lagerfeld's cat could be worth millions 25 February 2019, 7:38 pm CET, written by UBS Editorial Team After the recent loss of her iconic fashion designer owner, Karl Lagerfeld, Choupette could inherit millions of dollars from Lagerfeld's long-lived and celebrated career. The millions Choupette may inherit from Lagerfeld is on top As a pet owner, Lagerfeld took great care of Choupette of the $3 million she made from her modelling career last and made sure she would be well taken care of if he year. Not bad for a seven-year-old, especially a feline seven- passed first. But, even though many owners consider their year-old. pets to be part of the family, some may neglect to think of their fur babies when planning their estate. Pets with Choupette is a blue-eyed Birman cat who Karl Lagerfeld proactive owners who take part in the estate planning first met in 2011, when French model Baptiste Giabiconi process, however, can continue to live a life of comfort— brought her along on a visit to the designer. There are even luxury, as in the case of Choupette—in the event of conflicting reports as to whether Choupette was a gift or their owner’s death or disability. kidnapped, but, either way, she remained with Lagerfeld for the rest of his life. In its whitepaper, “Planning for pets,” the UBS Advanced Planning (AP) team writes, "All humans who truly care for As creative director for Chanel, Fendi and his own their non-human family members—whether dog, cat, bird, line, Lagerfeld worked with the world's top models. tortoise, snake, monkey, koi, etc.—can make provisions to But, regarding Choupette, he said, "There is something do the same in their own estate planning documents.” The unforgettable about her, the way she moves, the way she AP team offers a few key considerations for owners who plays. She’s an inspiration for elegance. For attitude." In want to ensure their wishes for their pets are carried out. fact, she inspired Lagerfeld to launch the "Choupette in These arrangements can be formal or informal, with the Love" line. And, even though she has two maids and latter typically being easiest to implement but not legally roughly 130,000 Instagram followers, her reputation is less enforceable. catty than that of other models. UBS Investment Insights For UBS marketing purposes The AP team suggests clients begin by making a written list of expectations regarding a pet’s ongoing care. This list should include essential items, such as feeding instructions and veterinarian contact information. You should also consider selecting temporary emergency caregivers and confirm that they’ve accepted the responsibility to care for your pet if you are unable to do so. A will can specify your wishes for the care and ownership of your pet upon your death. You can also create a pet trust, which provides additional protections and advantages by stipulating that money will be set aside for your pet's care after you are gone. You should speak with your attorney about what types of pet trusts are available in your state. One of the most important questions a pet owner can ask is, "Who is the best person to take care of my pet?" The AP team advises that you choose a person whom you trust implicitly and who will do what is in the best interest of you and your pet. For more about how to plan for your pet's care after you're gone, see "Providing for your pets: Estate planning for our most precious assets," 18 Dec. 2018. Main contributor: Louise Bylicki UBS Investment Insights For UBS marketing purposes Important information As a firm providing wealth management services to clients, UBS Financial Services, Inc is registered with the U.S. Securities and Exchange Commission (SEC) as an investment adviser and a broker-dealer, offering both investment advisory and brokerage services. Advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate contracts. 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