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Is Your Pet a Member of Your Family?
Protect it With Pet Planning
Download Your Free Report on Pet Trusts
Many of us think of our pets as family members. We wouldn’t leave our spouse or children out of our estate plan, so why leave out our pets? Yet many pet owners never think about pet planning and too often, their pets end up abandoned.
What Pet Planning Is
Pet Planning is using your estate plan to make sure your pets are provided for in case of your incapacity or death. There are different methods of Pet Planning. You can use your Will to name a caregiver for your pet (this could be called a “Pet Will”). Or, you can establish a Pet Trust, naming a caregiver for your pet and a trustee to manage money for your pet’s needs. Whether you use your Will or a Pet Trust, Pet Planning helps ensure your pet will not be abandoned in case something happens to you.
What Pet Planning Is Not
Pet Planning is not simply naming your pet to inherit from you. Why not just name your pet in your Will? This type of “Pet Will” is a bad idea, because the law sees pets as property so they can’t inherit property. An effective “Pet Will” names a caregiver for your pet and leaves money to that person for your pet’s care.
Pet Trusts Aren’t Just for the Wealthy
When you hear the term “Pet Trust,” you might think of Leona Helmsley. She caused a stir by using her pet trust to leave millions to her dog. The truth is, you don’t have to be wealthy to have a pet trust. In fact, a Pet Trust might be the best form of Pet Planning because it lets you provide for your pet in case of death or disability – not just after you pass away.
Find Out More
When you download your free report, To My Dog Lucky, you’ll learn:
What type of Pet Planning is best for your family? Call us and find out.