Do you treat your pet like family? You may be wondering if there is a way for you to care for your pet, even when you die. The good news is you can incorporate your furry friends into your estate planning. If you want to learn more about estate planning for your pet, read on. 1. Choose a new pet owner. Make sure that you choose someone who is able to care for you pet. Discuss this with him or her ahead of time. Include provisions for new pet ownership in your will or trust. … [Read more...]
Start The Year With a Pet Plan
The new year is often the a time to reflect on the role family and friends play in your life, and to resolve to strengthen those relationships in the coming year. For pet owners, the relationship you have with your furry friend is often just as important as those you have with the people closest to you. That’s why the new year is also a good time to create a tool that will protect your pet should something happen to you. In California you can create a trust that is specifically designed to … [Read more...]
Four Different Types of Trusts
Trusts have become a very useful tool in the estate planning field; in fact, you may be considering one yourself. If you are considering establishing a trust, you should be aware of the different types that exist. Revocable inter vivos trust This is the most flexible of all the trusts. The usual setup for this type of trust involves the trustor (i.e., trust’s creator) transferring legal title to property to the trustee (i.e., person entrusted with looking after the property). The catch is that … [Read more...]
4 Questions About California Pet Trusts
What is a pet trust and how does it work? A pet trust lets pet owners provide a way to care for their pets after the owner dies. Pet trusts, like other trusts, are created when the pet owner transfers property to the trust to own. The pet owner must also select someone to run the trust, called a trustee, and decide how the funds should be used. Who cares for my pet? That is up to you. Many people direct that the trustee is there to pay for the pet's expenses while not actually providing the … [Read more...]
Does Fido or Boots Need a Trust?
Do you know what your pets do when you are not around? If your dog or cat creates a mess when you are not at home, then of course you know about that. But, what about at other times? Pets have a life of their own and they exist when you are not around. That means that they will continue to exist after you pass away. Just like they still need food and water when you are not around now, your pets will need food and water when you pass away. You can provide for your pets after you pass away by … [Read more...]
Planning Should Include Your Pets
When it comes to protecting your beloved pets, no one does it better than you. You love them... You feed them... You make sure they have everything they need to live a happy, healthy life. But what would happen if you were no longer around? Who would care for your pet? Would your friends and family know what foods to feed or what medications to give? How can you ensure that your pet continues to receive the love and care they need? What a Pet Trust Can Do A Pet Trust is a powerful legal … [Read more...]
Don't Forget Fido and Boots in Your Estate Plan: Pet Planning
People often overlook important estate planning considerations. After taking an inventory of all your assets and readying them for distribution to your loved ones, it would be easy to overlook something that is not normally thought of as an asset, the family pet. This is one of the reasons why it is a good idea to engage the services of an experienced and qualified estate planning attorney. You only have one estate to plan, but an experienced estate planning lawyer prepares many estate plans … [Read more...]
6 Reasons a Will Isn’t the Only Document You Need (part 2 of 2)
When beginning to think about your estate planning needs, you may decide to execute a will. A will can allow you to achieve a number of goals. However, it likely won’t allow you to handle all of your estate planning affairs unless you have a simple and modest estate. Take a look at the following information, to learn more. If you have any questions about the use of a will, contact an experienced and qualified estate planning attorney. You can’t control all asset distribution. It’s … [Read more...]
