03 Mar How to Protect Your Pet if you Die or Become Disabled
Posted at 09:29h in Estate Planning, Long Term Care
Although most think of outlandish cases when giving or caring for a pet such as when Leona Helmsley left $12 million (which the court subsequently reduced to $2 million) of her $4.8 billion estate in a pet care trust for her dog “Trouble”, there are several common sense ways that you can plan for your pet in the event of your disability or death, including pet care trusts, as follows:
- Give written instructions such as how often to groom or to feed your pet, special foods, medications, the name of the pet’s veterinarian, and any particular routines the pet may have.
- Add a provision in your financial Power of Attorney granting authority to pay a pet caregiver, the veterinarian and/or supplies, toys, or food for your pet.
- Consider an alternate caregiver for your pet and give them the same instructions or find someone (including the pet’s vet) to take care of your pet.
- Create a pet care trust in your Will or Living Trust. The Texas Property Code gives specific authority for the creating of pet care trusts, and it even gives suggested language to consider. You don’t have to be Leona Helmsley (whose estate was recently in the news since the Executors of her Estate charged the Estate a $100 million Executor’s fee) to take care of your beloved pet.
Want more information on protecting your pet? Whether you are planning for yourself or a family member, Michael B. Cohen & Associates are here to provide legal counsel for you and your loved ones. Please contact us using this online form here, or call our office at 214.720.0102 to schedule a consultation.