Choose Your Pet Caretaker Carefully
One of the key decisions that you need to make when you set up a trust for your pet, is who should serve as the animal caretaker and then the alternate caretaker, if the original is unable, for whatever reason, to be able to perform their duties.
The most obvious choices are a friend that is familiar with your pet or another family member.
Secondary options may include a local breeder, animal sanctuary or even your pet’s veterinarian.
Recently, a number of animal sanctuaries, also called pet retirement homes, have emerged that will provide care for an animal until its demise. These facilities vary greatly in terms of the environment they provide, the cost of placing an animal within the sanctuary and the type of compensation that they will accept. For example, some sanctuaries may accept only cash donations, while others are willing beneficiaries of a charitable remainder trust.
These animal sanctuaries or retirement center may be cost prohibitive or require a specific donation amount before they will accept your pet.
Estate planning for you and your pets is exactly that, the need to plan.
Start the New Year off right.
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