By Marlene S. Cooper | The Pasadena/San Gabriel Valley News
You may have heard of a case a couple of years ago in which a very wealthy lady left several million dollars for the care of her pet. While some think such a thing is absurd, it is a fact that some people are very fond of their dogs, cats, horses or other pets. If you have a pet you really care for, you might consider making some provisions for your pet in the event you are unable to care for it yourself. Some people have taken the trouble of making their wishes known concerning care of their pet in their will; however, if they are suddenly incapacitated such provisions in a will are of no use. Provisions in a will are only effective upon death. Pet advocates recommend that concerned pet owners have a trust that will provide for the pet immediately if the pet owner becomes seriously ill or incapacitated. The trust can also provide for the pet in the event of the owner’s death.
Statement by Laura Bianchi, Rose Law Group: “If your pet is a treasured member of your family, as mine is, then it’s imperative that you plan for his or her future in the event something tragic would happen to you.
“Individuals who fail to plan for their pets risk having their pet sent to a shelter or worse. Take the time to plan for every member of your family, including your beloved pet.”
If you’d like to discuss estate planning/asset protection, contact Laura Bianchi, Director Rose Law Group Estate Planning/Asset Protection Department, lbianchi@roselawgroup.com
