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Feb 1, 2013

February is National Responsible Per Owners month.

Pet planning is something to take seriously when you are engaged in the process of estate planning. While pets have relatively short lifespans many seniors find that pet ownership is quite rewarding. So if you have a pet and there is any chance that you will predecease the animal you really need to take the appropriate steps.

It is possible to find someone who is willing to be a caretaker and then leave this individual a direct bequest in your will. The problem with this is that there are no controls regarding what the caretaker actually does with the funds.

And, how do you know exactly how long the pet will live? The animal could pass away shortly after you do and the caretaker would wind up with the resources that you set aside for the pet’s care.

Perhaps a better option would be to fund a pet trust for the benefit of your pet. With these trusts you name a trustee who administers the funds in accordance with your wishes.

You can also name a beneficiary who would assume ownership of any remainder that may exist after the death of your pet.

This is a brief explanation, but we have prepared an in-depth report that explains pet planning in detail. This report is absolutely free, and if you are a pet owner or if you have an elder relative who owns a pet you should definitely get your copy today. To obtain access simply click this link and follow the instructions: Iowa Pet Planning Report

 

 

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