What happens to your dog or cat in the event you die? Who will take care of these animals? Will they be put to sleep? If you have a pet that is dear to you, you can make arrangements in your estate plan to take care of the pet.
Taking Care of Pets After You Die
You cannot leave money or assets to a pet. However, you can set up a trust and fund the trust. The trust can be specifically designed to provide shelter and care for a pet. This trust can be set up to see to it the pet will be taken care of for the rest of its life and then a loved one of yours will receive the balance of the trust funds when the trust ends at the time of the death of the pet. Should you have a pet you wish to take care of after your death, it is important you discuss this matter with an estate planning attorney. You may be surprised to learn it is not uncommon for lawyers discussing estate plans with their clients to draft clauses in wills and trusts that will take care of a pet. You can secure your pets’ future in the event of your death.
Estate Plan
Taking care of a pet after your death is a reasonable concern. Having an estate plan which deals with the pets’ long term needs can give you piece of mind that your pet will not be euthanized upon your death. Even if you have friends or loved ones who would like to take care of your pet they may live in an apartment situation that does not allow pets. The Law Offices of Schlissel DeCorpo have drafted trusts for clients ensuring their pets were taken care of upon their death.
