Estate Planning For Your Pets

According to a new Forbes article entitled Caring for Fido After You’re Gone, special interest groups are pushing for more pet care related provisions:

• A group led by the chief financial officer of the Humane Society is currently seeking a U.S. congressmen to sponsor a bill that would allow charitable remainder trusts for pets.  
• To make sure that pets are cared for while the pet owner is alive, one actor is advocating for an annual federal income tax deduction for up to $3,500 in pet related expenses.  

For more information, including details on pet trusts and other pet planning methods, see Ashlea Ebeling, Caring for Fido After You’re Gone, Forbes, Jan. 13, 2010.