Posted on 01/12/2014 8:10:36 AM PST by Innovative
The number of Americans owning pets is at a record high, and more people are making provisions in their wills to provide for these animals after they're gone.
But to ensure your pet is cared for as you intend, it's important to set up a pet trust—an arrangement that 46 states permit.
"Pet trusts aren't just for the wealthy," says Frances Carlisle, a trust and estates attorney in New York. For most pet owners, she adds, the goal "is to make sure a plan exists for the care of the animal."
Pet trusts can take effect either after you die or while you're alive. The latter provides for care of the pet in the event you suffer an accident or illness that leaves you unable to take care of your animal.
(Excerpt) Read more at online.wsj.com ...
Good info with specifics in the article.
Doggieping, kittyping
My pets aren’t GETTING anything, but my Bestie is in charge of taking them in, or finding them good homes. And it’s in my Will.
Knowing her, she’ll keep my chickens, at a minimum, LOL!
Pets are just substitute children for a certain percentage of the population. Writing pets into wills used to be the forte of rich, elderly women.
We set up a trust for our pets,especially our horses.To much animal cruelty out there to take a chance.
I think this is what the Roman’s did on the way to collapse.
Seems like the ancient Egyptians worshipped their pets just as well.
Whoever takes my pet at the time, and there’s a list, will receive not only financial support for the pet but a portion of my estate. I figure if I love something I want it taken care of after I die. (Since I’m alone now, I leave half a gallon of water out and a big bowl of dry food, in case it takes somebody a while to find my body.)
My dogs come from a specific rescue organization. If I pass away, the rescue will take them back to find new homes but I have provided funds to the rescue to take care of them and other dogs in my will.
Lots of people raise pets instead of children. Dog parks are replacing parks for children in many areas. And that leads to locals fighting about space all the time.
Waiting to see the day people can marry their pets to avoid the inheritance penalty.
That was the excuse we were given for same sex marriage norming.
Especially if you have a parrot, like me.
Ours is only 21. Macaws live to be nearly 100.
Of course we are child free, in our early 50’s and own two houses free and clear; gonna be one well set up parrot.
My dogs are so awesome that friends and family are going to be fighting over them when I check out!
Don’t forget Hairy is Dog of the Year 2013! :D Yea Hairy!
Buddy gets our house and cars, Coco gets the jewelry. :-)
“Too much animal cruelty out there to take a chance...”
I have been going on Pet Finders for a few months now and I am amazed at how many really nice dogs there are without a home because the “owner” died. I wonder if the unspoken “assumption” is that the kids/grandkids will automatically take the dog/cat/horse etc and when the time comes.. it just doesn’t happen. Setting up a plan of whatever sort (financial, no kill rescue, or the word of someone in the family/friend circle) isn’t a bad idea at all. On a side note, when Mom was terminal.. she made sure someone was taking her elderly Boston Terrier (my younger brother) and the cat (her DIL). Not all of us have months to prepare though......
With their blood?
It’s an interesting trend. I don’t mean to judge people, it’s just noteworthy to think about the macro environment that leads to this as a popular choice and how are these larger issues new and positive or are we just repeating the same cultural mistakes failing societies have proven aren’t healthy.
I made out my will this past year. It wasn’t as bad as I thought it would be, and the family lawyer was very kind explaining everything to me.
Since I’m single, no children it went quick, I own stocks, bonds, 401, etc and all that needed to be sorted out when I died. Which family member would inherit, which charities, etc. I learned if I died with out a will the State would get my 401 and savings.
I left a nice chunk of change, 5k to an animal charity for the perpetual care or any pets I may have so they would be taken care of and not destroyed.
Alas, my kitty crossed the Rainbow Bridge on New Years Eve . I did leave FR a small gift as well. But it may be twenty or thirty years before you all see it......
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