Don’t Forget To Protect Your Furry Family: Estate Planning For Your Pets
Humane Society estimates that between 100,00 to 500,000 pets are placed in shelters each year for exactly this reason, and a large number of these animals are ultimately euthanized.
Unfortunately, the law considers pets to be nothing more than personal property just like cars, furniture, and electronic devices. So unless you take the proper steps to include your pet in your estate plan, your beloved companion could end up in a shelter or worse following your death or incapacity.
How to Plan a “Pet Trust” to Protect Your Pet After Your Death
In my previous article, I talked about what to take into consideration when you’re planning for your pet’s care, in the event of your incapacity or your death. This week, I’m going to give you the steps to take in creating a pet trust to provide for your companion animal, or animals, if you cannot be there.
What Happens to Your Pets When You Die?
If you have pets, my guess is that you love them as much as you do your children, but I’m also guessing that you have not provided any written or, better yet, legally documented instructions about what should happen to them, if you become incapacitated or when you die. If you have, read this article with an eye to ensuring you’ve checked all the right boxes for the beings you love. If you haven’t, read on because it’s time to take action, and we can make it easy for you to do the right thing by the pets you love.
Pet Trusts Offer Protection for Your Furry Family Member
The best way to ensure your animal companions are properly taken care of in the event of your death or incapacity is to create a pet trust.
Why A Will Is Not A Suitable Option For Protecting Your Pet
In order to be completely confident that your pet is properly taken care of and the money you leave for its care is used exactly as intended, ask me to to help you create a pet trust.
Why Every Pet Parent Needs to Consider a Pet Trust Today
Estate planning is about protecting what’s important to you. Although much of the traditional estate planning conversation focus on surviving spouses, children, grandchildren, many pet parents wonder about what could happen to their “furry children” after their death or if they become incapacitated and unable to care for the pets. Read on if you’ve ever thought, “What will happen to my cat, dog, or other pet if I pass away?” “What if I’m incapacitated and unable to care for them?”
Enter the pet trust. This tool is something that can be easily incorporated into a new or existing estate plan to provide a strategy for caring for your pets. Remember, estate planning is about protecting what’s important to you. So, even if you anticipate outliving your pets, it’s always better to be safe than sorry.