Many people prefer not to think about what would happen if they died. However, failure to prepare for such a situation through proper will execution could mean that a person’s loved ones — including a spouse and children — may not receive all of the assets entitled to them in New York. According to a recent article, a pet should be included in this group of loved ones and is often left out of a will.
If an emergency were to happen to someone, there is a high likelihood that this person has not made preparations for what will happen to a favorite pet. In many situations, when people die, their pets end up wandering the streets until they are found and taken in by others. Usually when these pets are microchipped, it is easy for a vet to discover who owned the pets and then find out that the owners have passed away.
Many families treat their pets as one of their own family members. However, even though parents often prepare plans to take care of their kids and their spouses in the event of their death, they neglect to do the same for their beloved pets. Estate planning allows people to explain exactly how they want their pets to be taken care of or can even establish a trust fund that will provide money for their care.
Estate planning helps people to ensure that their beneficiaries are taken care of if they were to pass away. Proper will execution in New York should also include how pets will be cared for to ensure that they are not neglected when their owner dies. It is within a person’s rights to seek his/her beneficiaries’ and pets’ best interests through conscientious estate planning.
Source: NBCDFW.com, Remember Pets When Estate Planning , Ben Russell, Sept. 30, 2013