Have you thought about what would happen to your fur baby if you were incapacitated or you died? With an estimated 68% of households owning a pet, chances are high that your family or someone you know has a pet at home.
Without considering your pet in your life planning, your pet could go days without food and water, and could feel panicked, distressed or abandoned. In the long term, your pet could end up with someone you don't want caring for them or could end up in a shelter where they could be euthanized. Including your beloved pets in your life planning is imperative to ensure that they are properly cared for, both in the short- and long-term.
To properly consider your pets in your life planning, at a minimum, we recommend including a durable power of attorney for pet care, detailed pet care instructions and a pet owner's wallet card.
For many people, simply adding a line in your last will and testament is sufficient to identify who will care for your pet. (We do not often recommend this for numerous reasons.) For others, it may be a good idea to set up a pet trust, which makes certain that your pet is properly cared for when you are no longer able to do so. Trust provisions include details like the type of pet, specific caretaker, guidelines for specific care, provision for funds for related expenses, a specific trustee to manage the funds and what conditions result in termination of the trust.
The bottom line is that we have many people in our busy lives; however, our pets only have us. Everyone needs a life plan, and no pet owner's planning is completed without ensuring that their beloved companion is provided for.
Adding pet planning services to your life plan is a very easy process and adds to your peace of mind knowing that your furry companion will be properly cared for. To get started, please contact us to speak with a life planning attorney.
