The Kids Are Out Of The House
You are at home more these days. Caring for your pets has become more than something to do, it is a pastime AND your pets likely have come to mean even more to you.
What Will Happen To Them If Something Happens To You?
As you prepare for your future by working with your estate-planning attorney, arranging for the care of your family pet is becoming more common. As members of the family, your pets are accustomed to the care you provide. It’s only natural that you would want to see that they continued to receive that same kind of care in your absence.
You don’t have to be a millionaire to use a dog trust or to obtain a pet protection agreement that can keep your pet happy and fed if you aren’t around to take care of them. In the past decade, more states have enacted laws making it possible for people to name their pets as beneficiaries of funds from a trust. Arizona is one of them.
Creating A Pet Trust Is One Option When It Comes To Preparing For Your Pet In The Event Of Your Death Or Incapacitation
With this option, you would choose a trustee to manage the funds you’re placing in the trust. Next, you would determine a trusted caregiver for your pet. You would then outline how you want the care of your pet to happen and direct the trustee to disperse funds to the caregiver to finance the care of your pet in Arizona.
Many people think leaving funds and instructions for a dog inside their will is a sound alternative to a pet trust. However, because a it can take time to read and process a will, the animals left in the balance could wind up in a shelter or worse, euthanized because there is no one to care for the pet until the will is completely processed through probate.
With a trust, the lengthy probate process is eliminated. You may identify details such as exactly how often your pet must be walked and what kind of food you want the caregiver to feed your pet in the trust. A pet trust is clearly the most reliable option for your pet because it ensures your pets’ care will be exactly as you direct it.
Find out more about how you can provide for your pet and how to protect all of your valuables and assets. Join us for our monthly free seminar, 12 Deadly Sins of Estate Planning and How to Avoid Them. Pick a date that works for you here.