When you are planning your estate you have a lot of things to take into account. After all, this is going to be your final act of giving and it involves all of the worldly possessions that you been able to accumulate throughout your life. With so much to consider, it is very possible to overlook some of the details. As much as you want to take care of all your loved ones, you may actually neglect a beloved family member unintentionally: your pet.
If you have a pet or pets, it is important to make sure they are provided for as well. Many people expect to outlive their pets and don’t plan for them because of this, and others simply assume that it is a matter that will take care of itself. But if you want to be sure that your pet is properly provided for you need to be proactive about asserting your wishes, identifying a suitable caretaker, and providing the financial means for the new owner to take care of the pet.
There was a story recently in the news about someone who certainly made his pets a priority when he was planning his estate. Fashion designer Alexander McQueen took his own life last year, but he certainly made sure that his pets would not suffer. McQueen had three dogs, and he left behind almost $82,000 earmarked for their ongoing care. He also made very generous bequests to two charities that are devoted to the well-being of animals: The Battersea Dogs and Cats Home and the Blue Cross animal welfare charity.
Pet planning is important piece in the estate planning puzzle. To find out more about how to make sure that your pet is provided for through the execution of the proper legal documentation simply arrange for a consultation with an estate planning attorney.
- What Is a Stepped-Up Basis? - August 16, 2022
- Five Ways You Can Unintentionally Unravel Your Estate Plan - July 28, 2022
- What Is Estate Planning? - July 12, 2022