Don't Horse Around With Estate Planning
While we usually focus our thoughts on dogs, cats and other smaller pets, there is really no limit on the love of animls by their owners.
The Del Camino Equestrian Academy of Scottsdale Arizona, offers the following insights into estate planning for your pets.
Most people have some life insurance and a retirement plan.
They have named beneficiaries who are family members, of course.
Most responsible people with minor children at home have made arrangements in their will or trust for those children, including naming a guardian.
Do we assume that the beneficiaries of these instruments that wisely fulfill our duties to people, will share with our pets as we would wish?
You might reasonably predict that the family dog would stay in the family. But if you are single with pets, are you certain that relatives in Nebraska will fly Fluffy out from Phoenix to join them for the rest of Fluffy’s life? If Fluffy is a St. Bernard, maybe not.
How will they know which pet adoption agency to use to find him a new home?
What if that no-kill adoption center wants a support fee until he is adopted, which would be fair?
Are they going to be willing to spend $100 per month for however many months it takes to find him a home?
Who pays for those vaccinations and groomings that might come due in the interim? Oh, ALL of my relatives would take care of Fluffy. They love Fluffy as much as their own pets. Good.
Now let’s move on to your two performance horses that are boarded at a nice training facility, or your three backyard horses that you spend 3 hours per day maintaining if not riding.
One of those, by the way, is Sweet Ole Paint, a 24 year old with Cushings who won you the State Championship 15 years ago, and is enjoying a quiet retirement just keeping the younger horses company.
What is going to happen to them, if something happens to you?
They provide some probing questions and thoughts for you to consider with your planning.
You can gain further information on these plans here.
http://www.pettrustlawblog.com/admin/trackback/85883
