Article On Protecting Pets In A Trust

John H. Skarbnik (Professor, Fairleigh Dickinson University) recently published an article entitled, Protecting Pets: Issues to consider when drafting a trust. Provided below is an excerpt from the article:

As many of your clients may consider their pets to be valued members of their families, the initial estate planning conference with a client should include a discussion of who will care for the pet on the client’s disability and/or death. Should the disabled or deceased client’s assets be used to pay for the care and maintenance of the pets? Should the selected caretaker of the pet(s) be compensated or receive a bequest for the services that he’ll render in caring for the pet(s)? For single individuals who don’t have family in close proximity, finding a caretaker or organization may be challenging.