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Sixty-three percent of all U.S. households have pets, but here's a question that millions of pet owners may not have considered: What will happen to my animals when I die or if I become too incapacitated to care for them? Here some answers for those who have thought about the issue but haven't yet planned their estates to set aside funds for their pets' care.
One option is to fund pet care using the proceeds from a life insurance policy. This can be an affordable way to pay for any pets who survive you, in addition to having the funds available for other traditional purposes, such as covering the costs of funeral expenses, caring for other loved ones and or/naming favorite charities as beneficiaries.
The best place to start a conversation about this type of estate planning is with an accountant, attorney and life insurance representative. Keep in mind that Enforceable Pet Trusts are not available in every state, and because this is a relatively new option, some estate planners may not be familiar with it.
Pet owner need to have a Living Trust to make sure a pet is cared for in the event of an owner's severe disability -- a situation in which a will would not be valid.
Pets who outlive their owners can be adequately cared for through the Honor Sanctuary. We can help you set up a Pet Trust with your attorney or with ours. It is not difficult to do and we are glad to help you with the process. It is not expensive and can provide much security and comfort for you both.
The program offers pets a lifetime of veterinary care as needed and a home with an approved caretaker. Cats, dogs, small exotic pets, and horses are accepted. If your pet is able to be rehomed with someone who will love it as you do, that is the best of all worlds for the animal. In that instance, we place the pet and monitor its care and needs for the life of your pet.
We give you our word, our honor, to honor your wishes. We value each animal and its right to be here and enjoy life.
Please feel free to call us for further information.
For further legal help on setting up the Pet Trust, our attorneys are glad to assist you.
©2007 Abel Band, Chartered
240 South Pineapple Ave. | P.O. Box 49948
Sarasota, Florida 34230-6948
Phone: 941-366-6660 | Fax: 941-366-3999
Other Office Information: Venice, Florida, Denver, Colorado and Tallahassee, Florida
www.abelband.com
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