Protecting Your Wealth One Piece At A Time

Is your pet included in your estate plan?

On Behalf of | Mar 15, 2024 | Estate Planning |

Many individuals meticulously plan their estates to make sure they take care of their loved ones after they pass away. However, one important aspect that is often overlooked is the well-being of their beloved pet.

Creating a plan for the ongoing care and maintenance of your pet ensures that they too will receive the care they need according to your wishes.

Identify a caregiver

Begin by designating a responsible caregiver for your favorite animal. This person should be someone you trust to provide the necessary love and attention your pet requires. Clearly outline your expectations regarding feeding, medical care and any other needs.

Establish financial support

Animals come with expenses, and planning for these costs is important. Set aside funds in your estate plan to cover your pet’s veterinary bills, grooming and other daily requirements. Consider establishing a trust or allocating a specific amount to secure your animal’s financial well-being.

Provide instructions

Provide explicit instructions on your pet’s daily routine, dietary preferences and any specific health considerations. This information will help the caregiver seamlessly transition into their new role, maintaining a sense of stability and routine for your pet.

Update your plan

Periodically review and update your estate plan to reflect any alterations in your pet’s needs or the designated caregiver’s situation. Keeping your plan current ensures that your animal’s well-being remains a priority.

Taking the time to include your pet in your estate plan can give you peace of mind, knowing that your beloved companion will receive the care and support they need even after you are gone.