Often overlooked in the estate planning process, pets may find themselves homeless or unwanted, following the extended disability or death of their owner.
If you are a pet lover, the prospect of your beloved companion being turned over to an animal shelter is one that is almost unthinkable, yet every years thousands of great pets are turned into shelters by overburdened family members or caretakers who cannot take on the responsibility of caring for an animal companion.
Our firm has helped hundreds of families with their estate planning needs. But we are often asked "How would you address estate planning for childless couples?" or "What about single people with no dependents?" Add to these categories the many families whose children will not need a significant inheritance, those who wish to help other family members or charities, and there is a substantial population of people who do not "fit" the traditional spouse and children planning concepts.
Many parents with physically, emotionally or developmentally disabled children have not secured the child's financial future. A recent survey by Metropolitan Life shows that 60% of parents don't expect their child with special needs to be financially independent. Despite this candid acknowledgement, 68% of parents haven't written a will! and 29% have done nothing to plan for the child's financial future.
