Estate Planning for Animals and Domesticated Animals

Friendship animals play an important role in the lives of people. More than 500,000 animals are euthanized in animal shelters throughout the United States each year because of the death or special needs of the owner. How can pet owners prevent such a catastrophe from taking place? In this post, attorney John Martin explores 3 methods to offer financial backing and look after your pet when you no longer can.

Friendship animals play an important role in the lives of humans. Felines keep us business on the couch. Pet dogs play Frisbee with us at the park. Pets can even prolong a person’s life, decreasing the threat of heart attack and rates of depression. Despite these helpful impacts in the lives of humans, more than 500,000 pets are euthanized in animal shelters throughout the United States every year since of the death or disability of the owner. How can family pet owners avoid such a disaster from taking place? In this article, the author explores 3 methods to offer for monetary support and care for your family pet when you no longer can.
1st Solution: Provide your Pet to a Buddy or Relative

2nd Service: Provide your Family Pet to an Animal Protection Organization
3rd Service: Pet Trusts

First, you can provide specific instructions on how your family pet must be cared for. The trust may nominate possible caretakers, providing the trustee discretion to provide an appropriate guardian and home. The trust can delineate how medical expenses, family pet care, family pet check outs, and other responsibilities are handled.
Third, the family pet trust is more quickly enforced than an outright gift. A routine accounting of expenses can be required, where an individual designated in the trust, or a beneficiary, guarantees that principal and earnings are spent for a pet’s benefit.

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Estate Planning for Animals and Domesticated Animals

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