Estate Planning is described as making a plan in advance and naming whom you want to receive the things you own after you die. The estate consists of everything you own such as your car, home, checking and savings accounts, life insurance, furniture, and personal possessions. There is a clear resistance to estate planning. Perhaps this fear arises from the talk of mortality and proposed disaster. Most average Americans are exposed to estate planning when the latest Hollywood star passes away with unimaginable wealth. Though, any individual who is planning their estate has a desire to leave a legacy that will continue to positively impact their loved ones. For many, this may mean bestowing the fruits of their life to family members and friends, but for others it means making sure their beloved four-legged family members will be cared for.
Resources and a Caretaker
Estate planning for pets is not completely unheard of, and while you may not be able to leave money for your furry friends, you can still make sure they have a good life even after your death. You can use your estate plan to ensure that the new caretaker of your pet has the best resources available to take care of them. Here are two options to consider when planning your estate:
- Designate who you wish to care for your pet in your will.
- Create a pet trust which may be written into or referred to in your will.
In the pet trust or will, you could take the liberation of designating a guardian who will be responsible for pet care, specify other assets to be left to your pet, and instruct the guardian on pet care. Pet care instructions may feature general information that the guardian needs to know about your pet, food preferences, and critical medical information.
Be Specific
When estate planning for your animal it is important to choose a plan with specific details. Just as can be predicted, each estate will need to be conducted differently with the help of legal professionals who can help you rest assured that your pet will be cared for and provided for, even after your death. Failure to make accommodations in your estate for your pet can result in your animal being turned over to the animal control board. While it is unpleasant to plan things that happen following your death, having a secure plan in place is the best guarantee to minimize conflict and avoid leaving discretion to beneficiaries. Speak with an estate planning lawyer, like an estate planning lawyer in Arlington, TX, for more information today.
Thanks to Brandy Austin Law Firm, PLLC for their insight into estate planning for your pets.