If you have a pet, you may have thought at least once about what would happen to them when you die. Many pet owners do not have the answer to this question which is why their furry companions end up being abandoned and left alone. It is important to make a plan for your pet.
Every pet owner should make a basic plan where they outline the caretaking responsibilities and ownership of the pet. Before you appoint guardianship of your pet, make sure you can fully trust them. It is important to make a plan on your own because your pet’s needs may be unique to other animals. A Cherry Hill NJ estate planning lawyer can help you with the same.
What is a pet trust?
A pet trust is an estate planning tool that you can use to take care of your pet when you pass away. This trust specifically holds the assets which should be solely used for the benefit of your pet. Therefore, when you pass away and are no longer there to look after your companion, the funds in a pet trust can pay for their care. This includes:
- Grooming costs
- Emergency veterinary care
- Feeding and boarding costs
- Routine veterinary check-ups
- Exercise and companionship care
You can also mention how you want your pet’s cremation or burial to be when they pass away. There are complicated laws regarding pet trusts, and it helps to consult with an attorney.
Things To Consider When Planning Your Pet Trust
- Your dog’s long-term needs.
The law in Cherry Hill, NJ, considers your pet to be your property. This can seem insensitive to people who consider them as their family. Nevertheless, the law cannot be changed. You must leave your pet with someone whom you trust because they will claim legal ownership of your beloved.
However, do not just name someone without consulting them first. Make sure you talk to them and confirm that they are willing to take on the task. You do not want your pet to be a burden on someone.
2. Choose a caretaker for your pet.
One important part of estate planning for your pet is choosing a good caretaker. Make sure you invest a good amount of time and energy into picking this person because they will be handling a lot of things. Basically, they will be in charge of walking your pet, giving them medicine, spending time, and playing with them.
The person you choose should have a love for your pet and the kind of animal you own. For example, you cannot trust your cat with a person who is a dog lover.
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