What to Consider When Creating Provisions in Your Will For Your Pet
The Spirit of Bo, returning on this hot and humid pre-weekend day to give you some sound advice from beyond:
This is an interesting, albeit somewhat unusual topic, but a necessary one. Humans are known for creating wills and establishing trusts to take care of surviving family members in the event of their passing. What about pets? How can you provide for their care should you leave this earthly plane before they do? Here are some tips and suggestions to make sure your pet is taken care of after you die. While some people may just want to stipulate that a specific amount of money is set aside to give to the person who will assume responsibility for their pet upon their passing, as well as extra funds to cover the cost of care for the anticipated lifetime of your pet, there are other things to consider as well.
According to the aspca.org web site, it is suggested the you create a plan for the future care of your pet even if you do not have the extra funds for his or her care. On the other hand, do not set aside a lot of money for the care of your pet, as this could cause tempers to flare among surviving family members who might challenge those arrangements and decisions. Establish a specific bank account for pet funds; incorporate stipulations in a will or a trust, or consider drafting a pet protection agreement.
Consider asking a third person to control and direct the money set aside for your pet’s care. Do not use money as a motivational tool to convince someone to take care of your pet after your passing. Take into account your pet’s age and lifestyle to determine how much money might be needed for his or her on-going care after you die. Don’t forget to provide funds for the expenses related to your pet’s burial or cremation upon his or her eventual death. You could also make a donation to a pet shelter or animal retirement center for the future care of your pet in the event of your passing.
While this certainly is a heavy topic for today, it is important to consider this information as the future of your pet depends on it if something should happen to you. Your pet will love you for it!