Feb 062014
 
Don't Forget Your Pets!

Pet ownership throughout the nation is on the rise and so are the number of pet trusts created each year. Although some pet owners leave tens of thousands of dollars in trusts to care for their pets, pet trusts are no longer just for the wealthy. Many pet owners leave just enough funds to provide for the basic necessities of their pets, such as food and veterinary care making pet trusts more popular among all pet owners. As many pet owners view their pets as a part of their family, pet owners want to be sure that their pets are More…

Jun 072012
 
Why Using A Trust To Take Care Pets Is Better Than A Will

Americans love their pets, so it is perfectly natural that they want to ensure that they are taken care of in the event that something happens to the owner.  Although it may seem like a good idea to simply leave the family pet to another in a will through the use of a bequest, this is usually not the best way to handle the situation. This is primarily because the purpose of a will is to distribute property, and wishes or instructions in the will are often unenforceable (this is commonly known as “precatory language”).  In other words, a will More…

May 102012
 
Pet Estate Planning Is Not Just For The Rich And Famous

When a 94-year-old woman named Maria Assunta passed away last year, she left her sizable fortune, worth over $13 million, to a beloved member of her family, her cat Tommaso.  Tommaso’s story is a variable “rags to riches” tale of one stray feline who now has it all; as the proud beneficiary of an estate that consists of cash, shares of stock, and property holdings that include apartments and houses in Rome and Milan as well as land in Calabria, Italy.   Amazingly, all of this wealth makes Tommaso only the third richest pet alive, behind Kalu the chimp, whose owner More…

May 012012
 
BMO Retirement Institute Report Highlights Issues Facing 21st Century Estate Plans

A new report released by the BMO Retirement Institute, Estate planning in the 21st century: New considerations in a changing society, indicates that the estate plans of many Americans may need to be reviewed and retooled to factor in new modern considerations.   According to the report, “while the basics of estate planning have been the same for centuries, the traditional approach needs to be broadened to reflect changing realities.  Boomers are embracing new technologies at unprecedented rates and now have access to a world of digital information and online tools. . . . To keep up with these new realities, More…

Feb 242012
 
Pet Estate Planning Should Be A Priority For Any Pet Owner

According to the Humane Society of the United States, every year 400,000 dogs and cats need to find new homes after their owners die.  Undoubtedly, this can cause much unnecessary stress on the pets themselves, as well as the family members left to find a home for the pet once their owner has passed.  Interestingly, Channel 4 News in Jacksonville recently ran a report on the peace of mind that pet owners feel once they have made arrangements to care for their pets in the event of their incapacity or death. Overall, I thought that the piece was informative and More…

Jun 212011
 
Florida Pet Trust

If you are like me, your pet is part of your family. We rescued an English bulldog a few years ago and she has become very dear to us.  An important part of your estate planning should include provisions for your beloved four legged friend.  While a court can appoint a guardian to care for your children, pets are not so lucky.  Our pets are extremely important to us, however most people looking to adopt a pet want a puppy or kitten. Changes in Florida law now allow Florida estate planning attorneys to incorporate pet trusts into your estate plan. More…