Joan Rivers’ Lessons on Pet Planning

Joan Rivers’ death has left millions of fans mourning her loss as she represented a huge step forward for women in comedy. 

When it came to ensuring her loved ones were provided for upon her death, Rivers’ did an A List job.  Rivers leaves behind a valuable estate-planning lesson that many could learn from, which would be how to make sure your pets are cared for after you are gone.

Rivers had a simple estate plan as she left the bulk of her estate to her daughter, Melissa, by way of a family trust.  Additionally, Rivers made sure her four dogs would be taken care of, “She loved her dogs dearly, and they meant so much to her . . . dogs have become accepted as much essential family members that providing for them well in life, and after death, is considered quite normal.” 

Although trust laws vary from state to state, traditional pet trusts are effective everywhere.  Such trusts allow you to make very specific arrangements about the type of care you want your pets to receive and how the money you use to fund the trust will be managed and used over the pets’ lifetimes.  Traditional pet trusts allow you to go into as much detail as you desire about how exactly your pets should be treated. 

See Dan Caplinger, What Joan Rivers Just Taught Pet Lovers About Estate Planning, Daily Finance, Sept. 11, 2014.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.