Why
do otherwise doting pet parents fail to make such plans? Most people assume
they’ll outlive their pets, says Barry Seltzer, a Toronto-based estate lawyer and
co-author of Fat Cats & Lucky Dogs: How to Leave (Some of) Your Estate to
Your Pet. And death and disability are topics that many people refuse to face.
In the midst of planning for
your estate, there often can be a few members that get left behind unintentionally.
Have you made plans for your furry, four-legged members? If something were to
happen to you, who will care for your pets?
This subject was considered by The Humane Society in a recent article
titled simply “Backup Plan.”
What does a backup plan for your
pet look like? Well, the answer is pet-specific. Assuming you are not in the lion-taming
business, then there are any number of simple things you can do. Beyond that,
however, the key is to follow through and actually complete the necessary legal
planning. Good intentions will do little for your pet, large or small.
The basic question is where will
your pets go if you are gone? Perhaps you have a large number of family members
or friends who are pet lovers. If yes, then you must narrow down the field of
suitable candidates to appoint just the right person who can and will care for
your pet. This can be tricky if you actually are a lion tamer, or even the
owner of horses or exotic pets.
Something further to consider,
especially in those outlier cases, is the expense of owning the pet. Will there
be enough money to provide for the ongoing expenses of caring for your pet?
Many pet owners are including “pet trusts” as part of their estate plans to
provide for these ongoing expenses and to even compensate those who care for
your pet.
If your pet or pets are an
important part of your life, then take time to make proper arrangements for
them as part of your estate plan.
Please
visit our website for information on
elder law and estate planning issues, and sign up for our free monthly e-newsletter.
The archive on our website contains numerous blog posts on these legal
areas as well. You can also “friend” us
on Facebook (R Christine Brown) to receive periodic posts on elder law issues.
Reference: The Humane Society
(June 20, 2013) “Backup Plan”