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Do not forget to include your pets in your estate plans

When it comes to estate planning in Coral Gables, the one thing that many people overlook is their pets. It may be hard for you to think about your pets outliving you or becoming unable to care for them because of a disability. But not taking those issues into consideration while creating your estate plans can result in your furry companions suffering a dramatic change in living conditions and care and ending up in a shelter when you die.

Learn how to protect your pets’ future with your estate plans.

Choose a new caregiver for your pets

Choose someone who loves pets and is willing to step in as your replacement to care for your companions for the long term. Do not assume that any of your friends and family members are going to step up to the task if you do not appoint them. You should discuss your intent with your choice of caregiver to ensure he or she is willing to commit to the responsibility when necessary. You may want to consider naming several people as alternative caregivers for your pets to be safe.

Include instructions

Be sure to include in your estate plans your pets’ medical histories and needs. You should also include instructions about their daily care, standard of living and your wishes regarding any medical care they may need.

Establish a care fund

Make it easier on your pets’ future caregivers by establishing a trust to finance their expenses. You can update the trust by adding or removing pets and caregiver selections as necessary. You may also want to consider leaving the caregiver some money to help manage your pets’ expenses.

To protect your pets’ interests and prevent the mismanagement of their funds, you should designate a trustee for your furry companions’ trust. A trustee can make sure that the caregiver is taking proper care of your pets, following the instructions in your will and managing your pets' funds properly.

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