It is not easy to consider the future and what will happen to personal assets and wealth after passing away. Some adults create estate plans solely focusing on the preservation of their wealth and how they can pass it to their heirs. However, it may also be important to include beloved pets in an estate plan as well. This will ensure their care and provide clarity to family members who may need to settle the estate of a deceased loved one.
For many, a pet is a beloved family member. However, if a Florida owner passes, there may not be much consensus among those left behind on what should happen to the animal. Including terms and instructions in an estate plan can reduce the chance that complications arise, and it provides control over who gets the pet. There are also estate planning tools that can ensure financial provision for the pet.
Through a pet trust, a pet owner can set aside funds that will be used for the care and support of an animal. Legally, pets are property, but by establishing this type of trust, they can be treated as a family member. There are also other steps an owner can take that will ensure the care and support of a dog, car or another type of pet for years to come.
Creating a meaningful estate plan depends on the details of the individual situation. For pet owners, creating a pet trust or taking other steps could provide peace of mind and security. It will be helpful for an owner to speak with an experienced Florida estate law attorney regarding the specific estate planning tools that will be important for the individual situation.
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