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Planning for Your Furry Loved Ones
June 16, 2009
Filed under: Planning for Pets with Pet Trusts — Christopher J. Berry | Estate & Elder Law Attorney @ 8:31 pm
People love their pets. According to a bankrate.com article, Americans spent more than $43.2 billion on their pets in 2008. With all that spending their are two areas that are often overlooked. Both, according to the article, are affordable for most families and can even save your pet’s life.
The two key planning tools are pet insurance and pet trusts. Both can save your precious pet’s life. Pet insurance helps pay for the health care costs that can arise if your pet is injured or has health issues. This prevents the all to common occurrence of pets being euthanized due to a lack of money.
The other main planning tool, and the one our pet planning law firm can assist with, is including your pet in your estate plan with a pet trust. A Michigan pet trust can set aside money that is protected for the use taking care of your pet after you pass with a caretaker or multiple care takers. Michigan is one of the many states that allow for pet trusts.
One of the major benefits of a Michigan pet trust, is that a trustee can go to court to ask for a successor care taker if the pet is not being taken care of the way the trust outlines.
You can read the rest of the bankrate.com article here. Also mentioned is a Pet Trust planning colleague, Danny Meek of Indiana. Read Danny Meek’s pet trust law blog.
You can download our Michigan pet trust brochure.
Christopher J. Berry, Esq. is a Partner with Witzke Berry PLLC, which practices in the areas of Estate Planning, Elder Law, Probate, and Michigan Pet Trusts.
photo courtesy of Alan Bruce
