JAMES F. MILLER - ARTICLES. | ![]() ![]() |
Pet Trusts | Date: Mar 07-2012 |
For many of us, our pets are more than friends and companions; they are part of the family. Providing for pets in your estate plan can ensure that they will have a safe home and will be well taken care of when you can no longer do so. Since 2009, any pet or domestic animal can be provided for in a trust, just like any other member of your family! Your trust will be enforceable until all of your pet-beneficiaries have passed away, even if you own long-lived parrots or tortoises! A “Pet Trust” can be easily added to your existing living trust, revocable trusts, or other estate planning documents, or a separate trust can be drafted. Outright bequests or gifts to the caretaker of your pet may also be an option. |