Most people have an estate plan that dictates what will happen to their assets upon their death. While it is important to take care of your children, spouse, and other loved ones, don’t overlook what would happen to your pet upon your passing.
Who will your pet rely on once you pass away? Is there somebody who is willing to take it in?
A Pet Trust
A growing number of people are creating a pet trust. Not only does this put their mind at ease, but it ensures that their pet is taken care of long after they are gone.
Just the same as other estate planning documents, this gives you the option to set money aside for the future care of your pet. Furthermore, you can dictate what kind of care you want your pet to receive.
Here are just a few of the many benefits:
- Complete control of how your pet is cared for in the future, even though you will not be around to oversee the situation.
- Dictate everything from the type of food your pet should eat to their veterinarian care (and much more).
- Designate a trustee to oversee the pet trust.
- Ability to activate the trust in the event that you are incapacitated or disabled.
What about the Courts?
It is important to note that a pest trust is enforceable by the courts. This goes a long way in taking stress off your back, knowing that in the event of your death that your pet will remain safe.
Like most, you probably don’t know much about creating a pet trust. If you have any questions or require guidance, we are here to help. We have assisted many people with this process. When everything is said and done, you can rest easy. It feels good to know that your pet will be cared for in the event of your death.
To learn more, please download our free Avoid Estate Planning Mistakes here.
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