CURRENTS April 2018 | Page 15

Currents April 2018 15
> continued from page 14 sions for your pet in your Last Will and Testament and / or your Revocable Living Trust .
You may have a certain person in mind to take care of your pet after you die . You should speak to that person before naming him or her in your Will or Trust . You should also consider having an alternate if that person dies before you . If there is no individual person whom you trust , you can name an organization or specific facility that specializes in caring for pets after their owners die . You can ask your veterinarian for recommendations .
The next consideration is how much money you will be designating to take care of your pet ’ s needs for the rest of your pet ’ s life . If you are naming an individual , the amount of money will be up to you , based on your own assets and your pet ’ s life expectancy and special needs . You can leave the full amount to the individual as a specific bequest . The individual will pay for the pet ’ s needs from those funds and have use of the full bequest without restrictions . You can also set up a Trust naming a different person as Trustee of the funds with discretion to give the pet caregiver funds as needed and with a provision as to who will inherit any remaining money after your pet passes away .
In the case of an institution or facility as the caregiver , you will need to determine the fees for that facility so that you can provide sufficient funds during your pet ’ s lifetime .
You should specifically name any current pets in your Will or Trust and also designate any future pets to be covered under this estate plan .
This article covers some general issues regarding providing for your pet in estate planning . Each case is unique and the details should be discussed in a consultation with your attorney .
Please feel free to call me for a free personal or phone consultation regarding any issues pertaining to Wills , Trusts and Estates . I am also available for a free consultation regarding any issue pertaining to personal injury claims or car insurance coverage . Call me at 954-569-4878 . My address is 3275 W . Hillsboro Blvd ., Suite 204 , Deerfield Beach , Florida 33442 . My website is www . martinzevinpa . com and my e-mail address is martinzevin @ netzero . com .
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