Loneliness is a challenge for many seniors that have lost loved ones along the way. Clearly, a pet could make a world of difference, but responsible folks are going to have longevity concerns. Of course, you do not have to experience social isolation to benefit from pet ownership as an elder. Still, the $10,000 question remains: What would happen to the pet if you were to predecease the animal? This is a good question, and many years ago, there was no ironclad solution. Yes, you could … [Read more...] about A Trust Can Facilitate Responsible Pet Ownership
Pet Planning
How Does a Pet Trust Work?
If you have concerns about predeceasing your pet, there is a viable estate planning option in the form of a pet trust. Clearly, this would be relevant to senior citizens, and younger pet owners may want to have a plan in place as a purely precautionary measure. Caretaker The first order of business is to designate a caretaker that will actually care for the pet on a day-to-day basis if it becomes necessary. Ideally, this will be someone that has an existing relationship with your pet. If … [Read more...] about How Does a Pet Trust Work?
Pet Trusts Are Not Strictly for the Rich and Famous
You may have heard about the elaborate estate plans that have been created by some very wealthy people. As a case in point, a number of years ago, the estate of the “Queen of Mean,” billionaire Leona Helmsley, was in the news. She may have been mean to some, but she had an entirely different attitude when it came to her Maltese, Trouble. Helmsley left the dog a trust fund that was stuffed with $12 million that was earmarked for the care of the animal. If you are thinking that Trouble was … [Read more...] about Pet Trusts Are Not Strictly for the Rich and Famous
A Pet Trust Can Provide a Solution
We have all heard of so-called “trust fund babies.” These are children that are born into wealthy families who are beneficiaries of a living trust or some other type of trust. When you set up a trust for the benefit of a minor or an adult who cannot handle his or her own financial affairs for one reason or another, a trustee administers the funds. The trustee is a fiduciary who is bound by law to take actions that serve the best interests of the beneficiary. You may be surprised to hear … [Read more...] about A Pet Trust Can Provide a Solution
Top Dog Breeds For Seniors
You don't have to tell dog lovers just how valuable pet ownership can be. "Man's best friend" has certainly earned this prestigious title, and though you may not immediately associate dog ownership with senior citizens the two can indeed make a perfect match. Owning a dog can directly improve specific areas of life that are often challenging for seniors. Obviously, the companionship that a dog provides can go a long way toward reducing loneliness and of course this is something that many … [Read more...] about Top Dog Breeds For Seniors
Pet Planning: Have Your Questions Answered
One of the things that can be a bit challenging to address when you are making preparations for the future is the way that you will be making provisions for your pet. If you have a dog, cat, bird or any other type of animal you must ask yourself what will become of your friend after your passing. If you are a young person with a pet this may not be much of a concern for you, but it is still a good idea to include your pet in your estate plan because accidents and unexpected illnesses do befall … [Read more...] about Pet Planning: Have Your Questions Answered
Estate Planning for Pet Owners
When you get up there in years you invariably lose people that were close to you. Your spouse and siblings may pass away, you no longer have interactions with your coworkers as a retiree, and you may not spend as much time with your children as you would like to. There is no substitute for these types of interactions. However, if you were to experience loneliness as a senior you may want to consider purchasing or adopting a dog or perhaps a cat. Experts have found that pet ownership is … [Read more...] about Estate Planning for Pet Owners
The World’s Well Heeled Pets
There are some good and bad things about human nature, but without question one of the best ones is the relationship that we have with our pets. Though people sometimes own exotic pets, dogs and cats are the most common four-legged family members, and they certainly bring us a lot of joy on many different levels. Because you have so many serious matters to consider when you are planning your estate you may overlook the need to make provisions for your pet. In addition to the fact that it can … [Read more...] about The World’s Well Heeled Pets
Designer Left Dogs A Bundle
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 … [Read more...] about Designer Left Dogs A Bundle
Pet Planning Is Not To Be Forgotten
People who reach an advanced age face a number of different challenges, and many of them are emotional and psychological. When your children are long gone and your spouse and other family members and friends have passed away, you can feel lonely, plain and simple. In addition, you can question your purpose in life, and this can lead to sadness and depression. You may not have any motivation to get outside and get some exercise and fresh air, and this can add to the general malaise. A one step … [Read more...] about Pet Planning Is Not To Be Forgotten
