{"id":1133,"date":"2012-09-19T20:46:57","date_gmt":"2012-09-19T20:46:57","guid":{"rendered":"http:\/\/www.animalhealthfoundation.net\/blog\/?p=1133"},"modified":"2012-09-19T20:47:39","modified_gmt":"2012-09-19T20:47:39","slug":"pet-trusts-protect-animals-if-they-outlive-their-owners","status":"publish","type":"post","link":"https:\/\/www.animalhealthfoundation.org\/blog\/2012\/09\/pet-trusts-protect-animals-if-they-outlive-their-owners\/","title":{"rendered":"Pet trusts protect animals if they outlive their owners"},"content":{"rendered":"<p><strong><em><a href=\"https:\/\/www.animalhealthfoundation.net\/blog\/wp-content\/uploads\/2012\/09\/dog-and-cat.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-1134\" title=\"dog and cat\" src=\"https:\/\/www.animalhealthfoundation.net\/blog\/wp-content\/uploads\/2012\/09\/dog-and-cat-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\" \/><\/a>According to the 2012 AVMA pet ownership survey, there are some 164 million cats and dogs in homes across the U.S., and attorneys Elizabeth Carrie and Robert Kass recommend that pet owners plan for the possibility that they may no longer be able to care for their animals. Naming a caregiver, providing detailed pet care instructions and dedicating money specifically to the pet&#8217;s care are all important parts of the plan, according to Kass and Carrie. Bundling all the essentials into a specific, separate trust is the best way to ensure the plan will be implemented in the manner the owner intends, they said.<\/em><\/strong> <a href=\"https:\/\/r.smartbrief.com\/resp\/dRALCertqOCepegGCidbaFCicNmLTs?format=standard\" target=\"_blank\">Fox Business<\/a><\/p>\n<p>If you\u2019re a parent, odds are you\u2019ve thought about the unthinkable: Who will\u00a0 raise your children if something happens to you? Who do you trust to love and\u00a0 care for them the way you would? How do you provide the money needed and ensure\u00a0 that it will be used properly?<\/p>\n<p>These concerns also come into play if you become disabled, even temporarily.\u00a0 Who can you depend on to step in until you recover?<\/p>\n<p>Now consider this: there are <em>three times as many<\/em> households in the\u00a0 U.S. that have pets than have children- 57%, according to the American\u00a0 Veterinary Medicine Association\u2019s 2012 <a href=\"https:\/\/www.avma.org\/\" rel=\"external ext-linked\" target=\"_blank\">survey<\/a><img decoding=\"async\" src=\"https:\/\/global.fncstatic.com\/static\/v\/all\/img\/external-link.png\" alt=\"\" \/>.<\/p>\n<p>Compared to the 28 million children living in this country, Americans own\u00a0 more than 164 million cats and dogs. Adding birds to the mix brings the total to\u00a0 nearly <em>181 million pets<\/em> (not to mention horses, small animals, fish,\u00a0 etc.).<\/p>\n<p>For many of us, our pets are our \u201cchildren.\u201d And, if you want to know they\u00a0 will be properly cared for in the event you can no longer do this yourself,\u00a0 Detroit attorneys Robert Kass and Elizabeth Carrie stress that you need to take\u00a0 some basic steps to ensure your wishes will be carried out.<\/p>\n<p>Kass cites the case of a woman who committed suicide by jumping off a bridge.\u00a0 Although her body wasn\u2019t recovered for months, it took five days for co-workers\u00a0 and neighbors to realize she was not just away on a trip, but actually missing.\u00a0 During that time her cats were without food, water, and of course, their primary\u00a0 human companion. \u201cWhen the authorities finally went into her apartment, the cats\u00a0 were crazed,\u201d he says.<\/p>\n<p>If no one steps forward to take in an animal that, for whatever reason, can\u00a0 no longer be cared for by its owner, it is routinely taken to a shelter and put\u00a0 up for adoption. That\u2019s traumatic enough. Unfortunately, unless it is a \u201cno-kill\u201d shelter, if it isn\u2019t adopted within a certain period of time, an\u00a0 animal that was once your beloved pet, will be euthanized.<\/p>\n<p>As Kass and Carrie point out in their book, <em>Who Will Care when You\u2019re Not\u00a0 There?, <\/em>the biggest mistake a pet owner makes is assuming she or he will\u00a0 outlive her cat, dog, rabbit, African Grey. If you truly care about your pet,\u00a0 that\u2019s a pretty big risk. Depending upon your age and health, the life\u00a0 expectancies of many species- parrots, for instance- make it very likely your\u00a0 pet will outlive you.<\/p>\n<p>Another potential disaster is assuming that your cousin (Fast) Eddie- who\u00a0 always got along great with Fido on Thanksgiving visits- will: 1) know <em>how<\/em> to care for him (favorite toy, food allergies, medications, afraid of\u00a0 thunder, etc.) and 2) be <em>willing<\/em> to do so, even when Fido grows old and\u00a0 arthritic<\/p>\n<p>While Eddie may, in fact, be an animal lover (he\u2019s always been fond of the\u00a0 horses- the Kentucky Derby and Belmont kind), there have been sporadic family\u00a0 rumors about money problems. If you leave a bequest to cover the cost of Fido\u2019s\u00a0 care, are you certain Eddie will use it for this purpose?<\/p>\n<p>In the event Eddie surprises the family and ends up being a flawless\u00a0 replacement for you, what if he, himself, is incapacitated, hospitalized, or\u00a0 dies? Naming a successor caregiver is essential, say Kass and Carrie.<\/p>\n<p>There are various avenues you can take to provide for the care of your furry\u00a0 and feathered \u201ckids\u201d if you become incapacitated. You can start with a Power of\u00a0 Attorney, which, unlike a typical POA (which generally covers financial assets)\u00a0 gives another individual the legal power to make decisions about your animal\u2019s\u00a0 care. This includes everything from moving it into their own home, to giving\u00a0 them discretion to take it to the vet, and so forth. If the individual isn\u2019t\u00a0 familiar with the pet, it\u2019s a good idea to attach an instruction sheet listing\u00a0 the veterinarian and grooming names, the preferred type of food and any other\u00a0 important notes about the pet to help it assimilate to a new home.<\/p>\n<p>However, to be on the safe side, Kass and Carrie recommend creating a\u00a0 free-standing trust, separate from the trust that deals with your material\u00a0 possessions and human children. You can fund it with an amount of money that you\u00a0 feel will cover the care of your pet(s) for the remainder of their lifetimes,\u00a0 leaving anything that remains to, perhaps, a pet-affiliated charity. They\u00a0 recommend using attachments to the trust since these can be easily amended as\u00a0 your pets and the care they need change.<\/p>\n<p>Ideally, you want to have an attorney with experience in pet planning and the\u00a0 laws of your state draw up the documents. \u201cIf you can\u2019t afford to do this,\u201d says\u00a0 Carrie, \u201clegalzoom.net offers pet trusts online for less than $100.\u201d This\u00a0 document won\u2019t be as customized, but it\u2019s far better than nothing.<\/p>\n<p>Consider everything you pet gives you- unconditionally and daily. Don\u2019t you\u00a0 want to be sure it will receive the care it needs if and when you\u2019re not able to\u00a0 provide it?<\/p>\n<p><em>Ms. Buckner is a Retirement and Financial Planning Specialist and an\u00a0 instructor in Franklin Templeton Investments&#8217; global Academy. The views\u00a0 expressed in this article are only those of Ms. Buckner or the individual\u00a0 commentator identified therein, and are not necessarily the views of Franklin\u00a0 Templeton Investments, which has not reviewed, and is not responsible for, the\u00a0 content. <\/em><\/p>\n<p>Read more: <a href=\"https:\/\/www.foxbusiness.com\/personal-finance\/2012\/09\/17\/what-happens-to-your-pet-if-something-happens-to\/#ixzz26wzrZl4w\">https:\/\/www.foxbusiness.com\/personal-finance\/2012\/09\/17\/what-happens-to-your-pet-if-something-happens-to\/#ixzz26wzrZl4w<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the 2012 AVMA pet ownership survey, there are some 164 million cats and dogs in homes across the U.S., and attorneys Elizabeth Carrie and Robert Kass recommend that pet owners plan for the possibility that they may no longer be able to care for their animals. Naming a caregiver, providing detailed pet care [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,12,29,14,33,15],"tags":[],"class_list":["post-1133","post","type-post","status-publish","format-standard","hentry","category-cats","category-dogs","category-healthy-pets","category-horse-news","category-human-animal-bond","category-other-pets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pet trusts protect animals if they outlive their owners | The Animal Health Foundation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.animalhealthfoundation.org\/blog\/2012\/09\/pet-trusts-protect-animals-if-they-outlive-their-owners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pet trusts protect animals if they outlive their owners | The Animal Health Foundation\" \/>\n<meta property=\"og:description\" content=\"According to the 2012 AVMA pet ownership survey, there are some 164 million cats and dogs in homes across the U.S., and attorneys Elizabeth Carrie and Robert Kass recommend that pet owners plan for the possibility that they may no longer be able to care for their animals. 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