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 creating a Pet Trust. In the Trust, you can designate who should take care of your pet and how. You can leave money to ensure that your pet continues to receive the standard care that he or she receives now. If your cat gets a special treat every Sunday night, you can put that in the Trust to make sure that the cat continues to receive the treats.
Talk to an experienced and qualified estate planning attorney about setting up a Pet Trust to provide for the continued care and support of your pets. Make sure that your pets continue to have a life when you are no longer around to care for them.
- Living Trusts and Incapacity Planning - March 31, 2020
- Estate Planning and Charitable Giving — Key Points - March 29, 2020
- Over-Funding Your Retirement Plan: A Potential Estate Planning Problem - March 27, 2020