In the event of their death, many people wish to provide for the adequate care and feeding of their beloved dog, cat, bird or other pet. Here is an abridged version of New York’s statute authorizing a trust for your pet; The intended use of the principal or income, of…
Articles Posted in Pet Trust
Demand for Estate Planning Increases As More Millennials Become Caregivers
As the country enters a third year of living in a pandemic, estate planning is seeing an increase in millennials who are surpassing the baby boomer generation as the generation who performs the most caregiving for both children and aging parents. Millennials are creating their own families, while simultaneously caring…
Estate Plans Should Contemplate Pets
Many people find great enjoyment in sharing their life with a pet. Data reveals that about 90.5 million families in the United States own pets. For both people who are natural caregivers and those who require a pet’s companionship, pets can introduce a great sense of belonging to people. The…
PLANNING FOR YOUR PETS IN YOUR ESTATE
NEW YORK TRUSTS FOR PETS Some animals are undoubtedly beloved pets. They provide us with love and companionship, while there are other animals that are more than pets. For example, horses are an investment, they are a partner in exercise, they help some children with therapy and a comrade to…
Hurricane Sandy, Pets, & Planning
Many lessons can be taken from the beating that our state took in recent weeks as a result of Hurricane Sandy, not least of which is the resiliency of New Yorkers. However, as we piece things back together, some advocates are reminding community members of one overlooked victim of lack…
Common Pitfalls of Pet Bequeaths
The most recent survey from the Humane Society found that there are at least 78.2 million owned dogs and 86.4 million owned cats in the United States. The data indicated that nearly 40% of all American households own a dog while roughly 33% own cats. Pet ownership rates are near…