Examiner.com: Within the financial planning world, a key planning goal is to ensure that one’s client does not outlive the assets available to provide for their daily nourishment, shelter, and care. Consequently, I have always visualized retirement and estate plans that focus upon aging women and men.
Needless to say, I was caught by surprise this past week when I learned about the growth of a small niche within estate planning which does not involve aging adults, children, or grandchildren. Instead, it is centered upon providing for the shelter, nutrition, and care of pets after the pet’s owner has died.
For a growing number of folks who are extremely attached and devoted to their pet (or pets), the fear that their own death will lead to pain, suffering, or even death for their pet, leads them to search for a solution that will prevent that from occurring. For such pet owners, the opportunity to create a “pet trust” for the ongoing provision of quality care for a pet after they die is a huge emotional blessing.
Continue reading about not your typical beneficiary.
Plan for your pet's future with a KEYTLaw pet trust. Read more about pet trusts.