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Five Essential Steps to Take When Estate Planning for Your Pet

It can be difficult adjusting to life without a loved pet. It can be just as challenging to make sure a pet is properly cared for in the event that something happens to you.   While it might be a grim thought, the truth is that every day a countless number of people are killed or incapacitated by serious accidents. If you were involved in a catastrophe of this nature, you would want to make sure that someone else could provide the care and love that your pet deserves. Despite recognizing the value of a pet trust, many people fail to create one. As a result when accidents do occur, pets are left to face the consequences. The ASPCA reports that each year, approximately half a million cats and dogs are placed in shelters because their owners are either killed or incapacitated in serious injuries. Fortunately, with some adequate estate planning, it is possible to make sure that your pet is cared for in the event something happens to you. Make Sure to Appoint Someone to Manage Your Pet’s Care Many people decide to use formal estate planning documents like wills to appoint someone to take care of a pet. [...]

2019-06-12T00:15:14+00:00Tags: , , |

The Nature of Pet Trusts

Most people who have pets understand that a significant bond is created between the animal and its owner. Many people, however, fail to consider what to do if something happens to their animal after they die. Statistics suggest that over 500,000 animals each year are abandoned due to the death of the animal’s owner. With adequate planning, however, these pets can be protected. Some of the advantages of including a pet in an estate plan are that it helps to make sure there is someone to take care of the animal after the owner’s death. Also estate plans help to provide clear instructions about the animal’s care. There are fortunately several available methods for a person to make sure that their pet is care for after their death. Outright Gifts Some people decide to leave their pet as well as a gift of money or property for the care of their pet directly to a family member or friend. This gift is often made on the condition that the caregiver receives the assets on the condition that they be used to care for their pet. This option is often best for people who are certain that their chosen caregiver is [...]

2018-05-14T13:36:53+00:00Tags: , , |