Many people love their pets and want them to be taken care of no matter what. Some people don’t realize that they can leave instructions for pets in their estate plan.
There are several things that you should think about when you’re planning for your pet. Taking the time to get a viable plan together is critical.
Who will take care of your pet?
Pets are considered property, so you need to name a person to take care of them if you won’t be there to do so. This person should be someone you trust to make sure the pet gets food, veterinary care, and love. Ideally, they will be someone who has similar beliefs about pets to what you have.
How will the expenses be covered?
You can set up a trust for the care of your pet. This lets you provide financial support for things like food and veterinary care. In the absence of a trust, the person who’s taking care of your pet would have to cover all the necessary expenses. Many people will do this as an act of love for their friend or family member, but leaving a trust is a way to relieve them of some of the pressure.
Creating a comprehensive estate plan is important. If you have pets, be sure that you don’t leave them out. Setting up a plan for them in your estate will afford you some peace of mind. Be sure you work with someone who understands your wishes so they can help to ensure the components of the plan will make those wishes come to fruition.