Estate Planning For Pets

Pets are often left out of estate planning. It is easy to include a means to care for your pet(s) without your pet becoming a financial burden on whomever takes care of your pet.

Estate Planning For Pets

Don't Leave Pets Unprotected

Pets can not be beneficiaries. However, a trust can hold money, just like it would for a young child, for the health, education (dog training?), maintenance and support of your pets.

For example, a trust could hold $10,000, which would be distributed over time by the successor trustee to the pet’s caretaker when the caretaker provides receipts for food, vet bills, etc. to the successor trustee.

Once the trustor’s last pet passes, the remaining balance can be distributed to the beneficiaries listed in the trust or given to a charity, such as an animal shelter.

Your estate plan can list people you would want to care for your pets. Just ensure the people you are listing would be interested in taking your pet. Remember, the people you ask may ask you to take their pet in return should something happen to them.

Living trust will kit

The Estate Director

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