Time to Plan for Your Pet?

Many pet owners are refusing to leave the future of their pets to chance. As a recent article explains, devoted pet owners are providing for the care of their pets through wills, trusts, or other estate-planning provisions.

(Photo credit: Wikipedia)

As pet owner Carol Santora explained, “I got really nervous about it because I don’t think anyone in my family would want my dogs.” In order to care for her two dogs, Biscuit & Dixie, Santora executed paperwork that would ensure that the dogs would be transported to the local Animal Welfare Society. She further provided that money would be left to the shelter for the family that adopts her dogs. Finally, she drafted a document explaining Biscuit & Dixie’s routines and special quirks.

Of the plan, Santora explained, “Someone may not have the money but may really, really want a dog and then find out all they have to do is bring these slips to the Animal Society for the grooming and vets bills and whatever they need.” Santora is now confident that, should her dogs survive her, they will find a loving home.

Some pet owners do have a family member willing to take in their pet. In order to provide financially for their pet and ease the burden on their family member, these pet owners may set up a trust for their pet. Such trusts often dictate that the trustee will distributed money as needed for care of the pet.