New York Estate Planning & Elder Law Blog
One of the most pressing questions asked by people that loved their pets is how they will respond if their pet dies. Some people assume that a relative or family member will happily take the pet, this is not always true. In reality, it is almost always a much better idea to create estate plans about how your pet will be taken care of following your demise. This article will reviews some of the critical things to think about when it comes to leaving a pet behind.
# 1 – Appreciate the Expenses Associated with your Pet
When deciding how much money to designate for the care of your pet in the future, it is critical to understand that the associated costs can vary greatly. Caring for a larger, recently born animal can be much different than the costs associated with an older, much smaller cat. To determine the amount that should be allocated, some people find it helpful to calculate the costs associated with several months of care for the animal.
# 2 – Keep Your Pet’s Estate Planning Documents Up to Date
In the same way that you would update estate planning documents following a birth, death, or divorce, it is also important to inform your estate planning attorney if you recently received a new pet or when a beloved pet passes away. Other people discover that conditions change for the person whom they intend to take care of a pet if something happens and that the individual is no longer able to do so.
# 3 – Make Sure the Caretaker Agrees with Your Plans
You cannot force someone to take care of your animal if that person does not want to be assigned this responsibility. As a result, it is critical to find a person that loves animals and has the capacity to take care of your pet. While doing so, it is critical to be direct and up front about the plans that you have for your pets. If your ideal caretaker is unable to care for an animal, it is a wise idea to find someone else who can do so.
# 4 – Create a Pet Trust
A pet trust can be a particularly complex and expensive document to write, but many people discover that doing so gives them more opportunity to determine the level of care that a pet will receive. Some people even compare pet trusts to how a person might plan for the care of a son or daughter following their death. The elements of a pet trust include designating a primary caretaker who can care for the pet’s daily existence as well as a number of other complicated decisions.
Speak with an Experienced Estate Planning Lawyer
If you have questions or concerns about how to successfully perform estate planning for your pet, you should not hesitate to speak with a knowledgeable estate planning lawyer. At Ettinger Law Firm, we have helped a countless number of individuals perform successful estate planning for their pets. Contacts our law office today to schedule a free case evaluation.