5 Tragic Mistakes People Make When Leaving Assets to Their Pets

A pet trust is an excellent way to make sure your beloved pet will receive proper care after you pass on.  The problem, of course, is that you won’t actually be there to see that your wishes are carried out.  It’s critical to set up a pet trust correctly to ensure there are no loopholes or unforeseen situations that could make your plans go awry.  Here are 5 tragic mistakes people often make when leaving their assets to their pets. 1. Appropriating more than the pet could ever need. The gossip stories about such-and-such celebrity who left his or her [...]

By |2021-09-21T17:48:44+00:00March 6th, 2019|Categories: Estate Planning, Trusts|Tags: |0 Comments

A Trust for Fluffy or Fido? Why Every Pet Parent Needs to Consider a Pet Trust Today

Estate planning is about protecting what’s important to you. Although much of the traditional estate planning conversation focus on surviving spouses, children, grandchildren, many pet parents wonder about what could happen to their “furry children” after their death or if they become incapacitated and unable to care for the pets. Read on if you’ve ever thought, “What will happen to my cat, dog, or other pet if I pass away?” “What if I’m incapacitated and unable to care for them?” Enter the pet trust. This tool is something that can be easily incorporated into a new or existing estate plan [...]

By |2021-09-21T17:50:23+00:00August 23rd, 2018|Categories: Estate Planning, Trusts|Tags: |0 Comments

Another 3 Famous Pet Trust Cases and the Lessons We Can Learn from Them

Things don’t always go according to plan. On the other hand, sometimes pet owners can get a bit creative when providing for their pets. Let’s take a look now at 3 famous cases involving pet trusts and distill important lessons from them. David Harper and Red David Harper, a wealthy, reclusive bachelor in Ottawa, Canada, wasn’t exactly famous during his life. In his death, however, he made headlines by reportedly leaving his entire $1.1 million dollar estate to his tabby cat, Red. Just to make sure his wishes were carried out, Harper actually bequeathed the fortune to the United Church [...]

By |2021-09-21T19:29:06+00:00November 15th, 2016|Categories: Estate Planning|Tags: , , , |0 Comments

3 Famous Pet Trust Cases and the Lessons We Can Learn from Them

Not long ago, pet trusts were thought of as little more than eccentric things that famous people did for their pets when they had too much money. These days, pet trusts are considered mainstream. For example: in May 2016, Minnesota became the 50th (and final) state to recognize pet trusts. But not every pet trust is enacted exactly according to the owner’s wishes. Let’s look at 3 famous pet trust cases and consider the lessons we can take away from them so your furry family member can be protected through your plan. Leona Helmsley and Trouble Achieving notoriety in the 1980s [...]

By |2021-09-21T19:29:12+00:00November 1st, 2016|Categories: Estate Planning|Tags: , , |0 Comments
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