Estate Planning For Horse Owners

Horse owners can take a number of steps to ensure that their horses are cared for in the event the owner becomes incapacitated or passes away. Some estate planning tips on how to ensure a horse is cared for are below:

• Provided two reliable friends or family members who offer to serve as emergency caretakers with the veterinarian’s name, and discuss with them what you would like to happen to the horse in the event of an emergency.
• Keep in contact with the potential caretakers to ensure they are still available to care for the horse in the event of an emergency.
• Keep emergency contact information related to your horse in your wallet.
• Create a pet trust to provide the emergency caretakers with money to care for the horse. The trust terms will mandate how the funds will be administered and where the remaining assets should go following the horse’s death.

For more information on estate planning for horse owners, see Estate Planning for Your Horse. Plan to Provide For Your Horse..In Case You Can’t, Estate Planning and legacy Law Center, PLC, Jun. 15, 2011.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

For more information on planning for your pets, see Gerry W. Beyer & Barry Seltzer, Fat Cats & Lucky Dogs – How to Leave (Some of) Your Estate to Your Pets (2010).