The Finance Blogger

Estate Planning for Pets

Estate Planning for PetsEstate Planning for Pets. Believe it or not many people will set aside an estate for their pets. They want to make sure that their pet is looked after they have died and continue to live in comfort. They want them provided with a place to live, food, and all of the care that they would normally receive if their owner was still alive. For most people, it is simply a matter of asking a relative to look after their pet or a close friend. Often there is no money provided for their pet. But they are confident that the person they request will take care of their pet for them. However, there are some strange cases. The reason we decided to write this post was because of the person that we read about. She lived in New York and was also very rich.

Estate Planning for Pets

One person in New York City even wanted to arrange for their pet to be buried in the cemetery alongside its owner. Unfortunately, the city of New York would not allow this. The pet needed to be buried in a pet cemetery set up for this purpose. This was understandable. Even her large sums of money could not dissuade the city from its position.

In the meantime, there was a substantial amount of money set aside for the personal care and welfare of their pet. This included a person who was paid a full-time salary to look after the pet. You can be sure that this person wanted the pet to live as long as possible since it was a guaranteed job for them. The original owner also wanted her pet to live in comfort and to be well looked after. She left specific instructions regarding the care it was supposed to receive as well.

Estate Planning for the Average Person

For most people, it is a matter of making sure there is enough money left in the estate to look after their pets to provide food and health care. They will arrange with a family member to look after the pet as long as the pet is alive. They will also administer the estate for the pet.

The family member is responsible for making sure that the pet is looked after. This includes providing all of the proper food that is necessary, is exercised, and is provided with a loving home while the pet is still alive. They may even receive a small stipend to look after the pet for as long as a pet is left alive.

Friends and Relatives

But most people just give their pet to a relative and frankly hope for the best. It is up to the individual to take care of the pet. They need to make sure that it receives the proper food etc. The best approach by far is to have someone take your pet who loves pets. Hopefully, they will adopt yours as if it was their own. The last thing that you would want to happen is for someone to look after your pet who really does not like pets. You do not want them taking it because they feel bad for you.

Taking care of an animal is a big responsibility. Not everyone is up to the task nor do they want to have that responsibility. For some, it is a labor of love. While for others it is just something they have to do. They really would prefer not to have to look after a pet. Think carefully about who you wish to take on the responsibility of looking after your pet before you give it away. Not everyone is up to the task. Nor are they always able to look after a pet. You may also want to provide them with some instructions and even money to take on the task.

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