Thursday, February 26, 2009

Leaving Your Estate to the Dogs

Maybe I am just thoughtless or cold hearted, but I never thought of leaving my estate to Fido. Apparently, others have been more considerate. Consumer Reports provides some information on creating a trust for your pet and continuing care programs.
An alternative to the traditional pet trust is a statutory pet trust, now available in the District of Columbia and 37 states and pending in several more. These simple, legally enforceable trusts can be established for minimal cost, as little as $50 or $100, as part of your will.

The article warns against caring for your pet in a testamentary trust since it must first go through probate before the funds are available. The preferred alternative is a living trust.

Read more

See also PetGuardian

DHLevinsonJ uly 09, 2008
Leona Helmsley leaves Eight Billion Dollars to the dogs

No comments:

Post a Comment