As you enter your retirement years and slowly but surely reach the latter stages of your life you’ll invariably take stock of your legacy and develop a renewed perspective on what estate planning is all about. When your estate is distributed it is going to be the last time that you are able to provide anything for those that you love, and this is a pretty profound realization. Fortunately, if you live a full life the family members that are closest to you are probably going to be past the point of needing direct care and nurturing by the time you pass away. But the same cannot be said of your pets.
Many people who are engaged in the process of estate planning never think to consider their pets, and this is largely because we generally assume we will outlive our fine furry friends. This is not always the case however, so it is very important to make sure that your pets are provided for because after all, they are part of the family too, and they are completely dependent on you for their care and well-being.
The key factor when you are involved in pet planning is to find the right caretaker. It is very possible that you have a family member who has a good relationship with your pet, perhaps someone who has taken care of your animal during times when you were on vacation or otherwise unable to do so. This person could be sort of an unspoken “caretaker in waiting,” but short of this you can simply directly ask someone who you think would be a good fit.
Once you know who your caretaker is going to be you probably want to make sure that he or she has the funds that will be necessary to care for the pet. This can be done through a direct bequest as elucidated in your will, or if you so choose you could create a pet trust and these are perfectly legal in the state of Connecticut.
There’s going to be a lot on your mind when you are planning your estate and it is easy to overlook some details, but always keep your pets in mind and make sure that you have made provisions for their care.