Pet Planning - Law Offices of Ann Margaret Carrozza
Pet Planning
Safeguarding the Future of Your Furry Loved Ones
Seventy percent of Americans include members of their furry families in their household. Our animals bring us happiness, companionship, and unconditional love. We work hard to protect our pets' wellbeing in all facets of their lives as conscientious pet parents. But in the midst of optimal nutrition, veterinary treatment, and grooming, there is one obvious gap: future legal preparation for our dogs. It's important to include our pets' wellbeing in our estate plans in the event that we become incapacitated or pass away, just as we would for our loved ones.
Taking Care of Pets:
It is essential to name a pet caregiver when creating an estate plan. If you become incapable of caring for your pets, this person should be able and willing to take over their care.
Create a Pet Trust:
The best method for providing continued care is to set up a pet trust. This enables you to set aside money expressly for your pets' upkeep. You can appoint a trustee to oversee the trust's assets and make sure they are spent as you have directed for the benefit of your pets. Give thorough directions for your pets' upkeep, taking into account their food demands, vet visits, preferred methods of grooming, and any other unique needs they might have.
The Pet Trust Must Exist as a Separate Document:
It is not advisable for me to include the Pet Trust into a Will. This is a result of wills being probate. The pets remain in legal limbo throughout this time, which frequently lasts for several months. Furthermore, the pets will have fewer assets due to the high fees of probate.
Maintaining Frequent Plan Updates:
Because life is unpredictable, things might alter over time. Regularly reviewing and updating your pet-related legal planning is essential, particularly when significant life events like marriage, divorce, or the addition of new animals to the family occur. Verify that all beneficiaries, trustees, and authorized caretakers are still able and willing to carry out their responsibilities.
It is our duty as committed pet owners to see to it that our cherished animal friends are taken care of in the case of our incapacity or death. Pets can have peace of mind knowing that their legal needs will be met, and that they will continue to get the affection and care that they need. You may feel confident that your pet's future is safe by being proactive and including them in the estate plan.
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21338 40th Ave, Bayside, NY 11361, United States
+1 718–224–4746
