One important function of wills is the ability to include a guardianship provision. For example, if an individual has minor children, that individual’s will should include a provision indicating who he or she would like to serve as the guardian of the children. Additionally, the individual would likely draft another provision that leaves funds to provide for the care of the children. As a recent article explains, this treatment isn’t just for humans anymore.
Americans are more frequently drafting will provisions dictating who should care for their pet, should the pet outlive them. Moreover, these provisions often include bequests of money to provide for the care. While it is important to have a care plan for your pet, incorporating your pet into your will may not be the best way to ensure that your pet receives the care and attention it requires.
A better way to provide for a pet is thorough a pet trust. Unlike a provision in a will, a pet trust has accountability that will prevent the pet guardian from spending the money as he or she pleases, and not caring for your pet. A pet trust holds the funds you leave behind for your pet, and dictates that the funds can only be distributed for certain purposes such as veterinary care and food.
If you would like assistance with making sure your beloved pet is taken care of when you’re gone, feel free to contact us at (626) 696-3145.
