When you make your Will or Trust, you make sure your children are taken care of, and maybe leave a little bit to a favorite niece or nephew; but what about your dog or cat?
Most people do not consider their pets when they are doing their Estate Planning. They make sure the people they care about are taken care of, but often leave their pets in limbo; assuming someone will care for them.
These days, with the younger generation spread all over the country; or the world for that matter, it is important to make provisions for your pets in your estate planning documents.
A Pet Trust can be a separate document on its own, or it can be part of a larger Trust Agreement. We recommend that you set aside a sum of money for the support of your pets. You then direct your Trustee to secure someone to care for your pets for their lifetime. The Trustee monitors their care and pays for their food, veterinary bills, etc., from the funds in your Pet Trust.
Owning a pet is big responsibility that does not disappear when you pass away. Providing for your pets in a Pet Trust makes it easier to find someone to take custody of them, and for those custodians to provide the care you want your pets to enjoy.
Keenan & Austin, P.C.
keenanandaustin.com
Attorneys at Law
25550 Five Mile
Redford Twp., MI 48239
Ph) 313-532-2100 Fax) 313-532-7050 Email) janaustinkeenan@aol.com
(All information contained in this article pertains to Michigan law only.)
