Pets Often Overlooked in Personal Estate Planning Process
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.
There are creative ways to provide for pets in estate planning. Even though most of us will outlive our current pets, because we are pet lovers we know that we will probably always have a companion. An estate plan can set up a structured program for the care of any animal for whom we have assumed loving responsibility.
The options range from subsidies to incentives for individuals (or organizations) to take on the care of your pet.
While it is true that you cannot generally leave money specifically to a non-human, you can achieve the same effect by carefully crafting the language of your living trust to reflect your concern about "any pets I may own at the time of my disability or death."
If you have not provided for the care of your pets, we will be happy to discuss revision of your estate plan at your next annual review.
To schedule a review, call us at 626 584-8900 or e-mail info@GrieppLegal.com.
