Pets are Family
Do you have a pet that you consider as part of your family? You may have a dog, cat, bird, reptile, or any other animal that provides you with unconditional love and companionship. Pets have always been an important component for the lives of many people, and in some cases, pets are the most stable family members we have. This is why planning for your pet is such an important responsibility, just as it would be if you were planning for any other loved one.
Not Planning for a Pet
As an avid pet lover, you know why planning for your pets is important. Have you asked yourself what would happen if you suddenly died, and you did not have a plan for your pets?
The best-case scenario in this situation is your pet will end up with a family member who will love and care for them. But, in reality, pets will end up at animal shelters or in the care of someone less motivated to care for them. These scenarios are notorious for under-providing for your pets compared to the great life you had given to your companion. Also, if you were to suddenly die, and you were living alone, is your pets would be trapped in a house with no food or water until they were discovered.
These situations happen far too often as well, and they are a result of not planning ahead. Pets are capable of giving so much to us, but at the end of the day they are helpless in our world and they need to be cared for with love.
Estate Planning for Your Pet
Pets are special and must have detailed instruction to provided them with proper care. This is why you should consider including them in your Trust documents. Adding provisions into your Trust documents will ensure your pets to are taken cared of. This includes naming a caregiver for your pets who can take care of your pets exactly as you would care for them.
You may also divide an amount of funds to this caregiver to be used only for the care of your pets. These funds can be distributed as one lump sum, or they can be given over a period of time, usually ending when the pet’s life ends.
If you are living alone with your pet, be sure to have someone check in on you and your pets every week to prevent your pets from being alone for an extended period of time. To find out more about creating a Trust with your pets in mind, please schedule a consultation with our firm so you can plan for your pet’s future.