Estate Planning For Your Dog
As the proud owner of a dog, you know that your pooch is more than just your pet. He or she is also your family and probably your furry, four-legged child. You only want the best for your canine, which is why you have to consider things you would probably rather not. Providing for your dog is important, but it is equally so now so that you are able to provide from him or her when you are not able to. This is where a pet estate comes in.
A pet trust is quite popular. It allows you to detail specific instructions for the care of your pet that includes money and possibly, property, to a designated trustee so that this individual can ensure that your wishes are carried out. In general, there is no limit or minimum amount of money that you can leave toward your dog’s trust. However, it should be noted that your human family members could possibly contest amounts they deem excessive, which could result in the court reducing it.
You can include a section in your will that explicitly explains how you would like your beloved dog to be cared for. Usually, in this manner, you would name a person to be the caretaker or beneficiary of your pooch and any money you choose to leave them. You can have money distributed through your wishes in your will either in a lump sum or in regular monthly installments. However, you should be aware that the person is not necessarily legally bound to follow your exact wishes to the letter.
A pet protection agreement is a document that is legal and requires a lawyer to execute. The document names a specific individual to be your dog’s caregiver and the type of care you wish your canine to receive. This is an option that can be used when the owner is still alive but unable to care for the dog, which means it can actually be temporary should the owner’s situation change for the better and he or she is able to care for their pet again. A pet protection agreement is low in price and generally ranges from $39 to $79.