Living Trust for Your Pet
Oct 2nd, 2007 by Kate
Quoted from Bottom Line Personal, Vol. 28 Number 19, October 1, 2007
“Create a living trust for your pet so its care is funded when you are gone. Only about half the states enforce pet trusts, but even if a trust is not enforceable, it can indicate your wishes. Bequeath only as much as pet care usually costs - no more - to avoid challenges from relatives. On average, dog care costs $780 to $1,500/yr. Cat care averages $640/yr. You can arrange yearly payments to your pet’s guardian for the remainder of your pet’s life. The Humane Society of the United States offers a free estate-planning kit at www.hsus.org
Martin Shenkman, CPA, attorney, Teaneck, New Jersey. www.laweasy.com”
I guess Leona Helmsley didn’t read the part about bequeathing only as much as pet care usually costs.
[...] Kate wrote an interesting post today on Living Trust for Your PetHere’s a quick excerpt“Create a living trust for your pet so its care is funded when you are gone. Only about half the states enforce pet trusts, but even if a trust is not enforceable, it can indicate your wishes. Bequeath only as much as pet care usually … [...]