September 29, 2021
PETS AND ESTATE PLANNING?!
Is That Even a Thing?!
If you live in the Sarasota area, you may be familiar with the local legend of Leona Helmsley, an American Businesswoman who famously willed her dog, Trouble, a $12 million trust fund. The matter spent years in court and ultimately the trust for the dog ended up getting $2 million to go towards taking care of him.
This is obviously a very extreme case!
But it is NOT extreme to make a plan for your pets in the event of your incapacity or death. Florida shelters are notoriously over-run with pets who have been abandoned when their owner has become incapacitated or passed away.
Owners often assume a family member will just take care of their pet, forgetting that having a pet is a commitment of time and money that not everyone wants or can handle! Factor in allergies or that there are other pets possibly living in a family member or friend’s household and options for where your pet may be welcome become even smaller.
Including your pets in your estate plan gives you the peace of mind that your pets will be able to live as they are accustomed to in the event you are no longer able to provide for them. Options range from simple provisions in a will to super elaborate and specific trusts.
As we, at Cuturic Law, like to say: Peace Comes with a Plan!
And, as Birdie (pictured below) likes to say: No Pets Left Behind!