When planning for your estate, one member of your family may need a little extra attention—your pet. Although this lovable animal is a staple member of your family, the law sees your pet as a part of your estate, a piece of property for the lack of a better term.
To plan for them, there are a few main factors . First, who would you want to care for them. Usually, one may pass their pet to a trusted loved one, but there are other options such as the SPCA or animal sanctuaries when a trusted individual may not be available. You can also leave funds behind designated for the purpose of proper care.
This is best done through the implementation of a pet trust. A pet trust allows someone to name a proper caregiver, state how their pet is to be cared for, any specific details necessary to maintain such care, and have this transcribed into a legally enforceable agreement.
These trusts can be set up during life or be in place to be set up by your trustee following death. Without any plan in place, there is no guarantee who will care for them or how it will take place.
For more information regarding pet planning and incorporating this type of trust into your estate plan, please join us for an upcoming FREE seminar. If you have questions or concerns about your estate plan, contact the experienced estate planning attorneys at Sinclair Prosser Gasior by calling (410) 415-9900 to schedule an appointment.
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