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Estate Planning For Pets

Estate Planning For Pets

When engaging in estate planning, it is common for people to name guardians for minor children, to specify which family members should get which heirlooms, and to designate beneficiaries of their estate, but planning for the care of one’s pet is often overlooked.

Part of responsible pet ownership is having a plan in place for the care of your pet in the event of your incapacity or death. If you are one of the 85 million families in the United States who have a pet, then Estate Planning for Pets is for you! 

Having a plan in place is important so that, should you become unable to care for your pet, your pet is provided for in the manner to which they have become accustomed and by the caretaker you wish to designate. Without such a plan, medical treatment may be withheld or delayed, your pet may be neglected by an involuntary caretaker, or your pet may end up at a shelter, which can be a scary, lonely, and stressful place for pets.

There are a variety of documents that can be used to help ensure your pet is provided for in the event of your incapacity or death. These include a Pet Trust, Will, Durable Power of Attorney for Pet Care, Care Contracts, Care Instructions, and a Pet Wallet Card.

Funding considerations are also an important component of Estate Planning for Pets. Your pet’s remaining life expectancy combined with the anticipated care costs per annum helps determine a baseline for funding. A review of one’s assets and comprehensive estate plan will help ascertain if there is adequate funding in one’s estate already to provide for the care of one’s pet, or if additional funding considerations should be employed.

 



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477 Viking Drive, Suite 410, Virginia Beach, VA 23452
| Phone: 757.301.9500
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| Phone: 757.301.9500

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© JS Burton, P.L.C. | Disclaimer | Law Firm Website Design by Zola Creative
477 Viking Drive, Suite 410 , Virginia Beach, VA 23452 | Phone: 757.301.9500
5425 Discovery Park Blvd., Suite 101, Williamsburg, VA 23188 | Phone: 757.301.9500