Providing for Pets in Your Estate Plan

Many people (including us) think of their pets as members of their family.  They are an important part of our lives, and they hold an important place in our hearts.

Nonetheless, very few people provide for their pets in their estate plans.  Most often, the subject never comes up in discussions with the attorney preparing their documents.  Perhaps people are embarrassed to express a desire to provide for their pets for fear of seeming trivial or eccentric, or they believe that the extra planning expense associated with providing for them is something they can’t reasonably afford.  That’s unfortunate.

Fortunately, pet lovers in Missouri and Illinois have stepped in to make it easy for you to provide for beloved pets in your estate plan.  Each state has a law in place by which you can easily set aside money to provide for the future care of your pet or pets through a “pet trust.”  That’s often of critical importance, because even someone who might otherwise be willing to care for a pet might have to decline because the cost of feeding, grooming and providing proper veterinary care for them may be more of a financial burden than they can handle.

Of course, we often outlive our pets, and so the pet you have at the time you sign your planning documents may not be the same one you still have by the time you die, or you may by then no longer have a pet.  Neither of those circumstances presents a problem, as long as the subject is addressed properly in your plan.

A statutory pet trust is not difficult to set up, nor is it expensive to administer.  The law does truly make it easy, these days, for someone who wants to provide for pets after they die to accomplish that goal.

As pet lovers, we at Better Estate Planning want to make sure that you are aware of this opportunity and that you are able to provide for your pets if that’s your choice. We’ll be happy to help you provide for your furry members of your family in a way that will best assure that they continue to enjoy a good life.

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