When you are engaged in the process of estate planning, you are probably going to have a lot on your mind. Inventorying all of the assets that you have been able to accumulate throughout the entirety of your life can be a chore in itself. And then deciding how you are going to divide them and exactly how you should go about doing it is another challenge. This is why it is advisable to work with an experienced estate planning attorney who has the background that it takes to guide you through the process.
One of the things that can be overlooked if you do not engage the services of an estate planning attorney is pet planning. People generally assume that they will outlive their pets and many do not make any provisions for them for that reason. Others simply don’t think about it, assuming it will take care of itself should they pass away.
While it is true that a friend or family member may step up spontaneously and assume the responsibility if necessary, there are no guarantees. If you want to be sure that your pet will be well cared for after your death, you need to be proactive about making plans in advance. You would be well advised to ask someone that you would consider a good candidate if they would in fact be willing to take care of the pet if you were to pass away and get a commitment from this individual.
You then have to arrange for the caretaker to have the financial resources necessary to cover expenses throughout the pet’s life. This can be done by either creating a pet trust, or by leaving a direct bequest to the caretaker that is earmarked for pet expenses. To obtain more details about pet planning, simply arrange for a consultation with an experienced estate planning attorney.
Michael Robinson, Estate Planning Attorney
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