You have to think everything through when you are making preparations for the future, and because there are so many details to consider it is possible to overlook some of them. In fact, one of them may be lying at your feet as you read this article.
Yes, it is important to plan ahead for the well-being of your pets when you are making estate plans, and this is especially true if you are a senior citizen who owns a pet.
Pet ownership can be very good for seniors on a number of different levels. A lot of seniors suffer from loneliness, and the companionship that a pet can provide can make a very big difference.
Dogs can be protectors, and since they need exercise you may benefit yourself as you are motivated to exercise the animal. Pet ownership can also provide a renewed sense of purpose as you once again have a dependent of sorts in the home.
The first order of business when you are engaged in pet planning will be to identify someone who would be willing and able to care for the pet. You may well have someone who already cares for your pet when necessary and this individual could be the ideal candidate.
Then there is the matter of providing financial resources. One option would be to provide the caretaker with a direct bequest. Another possible course of action would be the creation of a pet trust for the benefit of the animal.
If you are a pet owner providing for your dog or cat is something to take seriously. Should you be interested in discussing pet planning with an expert, take action right now to arrange for a consultation with an experienced and savvy Willoughby OH estate planning lawyer.
- Low-Interest Loans: An Estate Planning Technique - July 10, 2020
- Avoiding Family Chaos in the Coronavirus Age - June 3, 2020
- Preparing for Coronavirus - March 31, 2020
