Blog Layout

Pets and Estate Planning

Alisya Clayton • Jan 27, 2014

Can a pet be included in my estate plan?

For many, an estate plan creates peace of mind. A sound estate plan ensures that an individual’s assets and property will be managed and dispersed as he or she wishes after death. An estate plan can also put to rest any qualms about a person’s final health care wishes should they become incapacitated.  Estate planning  allows you to provide for those closest to you when you are no longer able to do so. But what about our four-legged, feathered, or other creatures that so many of us consider being part of the family – will your pets be cared for properly after you die? A recent  story  in the Monterey County Herald, poses the question of what happens to a pet after ‘their person’ dies.

Most states, including California, have a  pet trust law  on the books. Basically, this allows an individual to set up a trust for the care of his or her domestic animal or pet for the life of that animal.

Memorialize your pet bequest

Pet owners want to ensure that their pet will be well cared for by a trusted family member or friend or sometimes an organization. While informal discussions with the party that is willing to take in your pet are a good idea – formalizing the ‘agreement’ by a bequest in your will creates clarity for your bipedal loved ones.

In some instances, people may not have a family member that is willing or able to care for a pet. Pet owners instead opt to leave their animal companions with a dependable animal organization. Often times a pet bequest is coupled with a monetary bequest to the pet shelter.

Over-the-top pet trust

A notorious pet trust that made headlines in 2007 was  Leona Helmsley’s  12 million dollar trust that she left to her dog, Trouble. Mrs. Helmsley snubbed some family members in her will and opted to leave a sizeable chunk of her fortune to her Maltese dog. A judge later reduced the 12 million dollar trust to 2 million dollars – this still allowed Trouble to live a not-so-troubled life. Trouble’s yearly budget for grooming was 8,000 dollars and 1,200 dollars for dog food. Because the dog received death threats – there was also a security team that protected her. The price tag for protecting Trouble was 100,000 dollars per year. The rich dog died in 2010. The remainder of the money left in the dog’s trust reverted to a charitable trust set up by Mrs. Helmsley and her late husband.

Estate planning in California

The  Law Office of Mark Abell  is experienced in all estate planning aspects. We create and customize your estate plan to suit your needs – including incorporating your wishes to ensure your pet is cared for in the event you no longer can. We are also able to assist you in updating your existing estate plan. If you want to discuss or have questions regarding your personal estate plan, contact  California estate planning attorney , Mark Abell, today at 310-489-0707 or mark@trustabell.com.

By Mark Abell 22 Mar, 2023
Setting Every Community Up for Retirement Enhancement (SECURE) Act
By Mark Abell 16 Mar, 2023
When you hire an estate planning attorney . . . 
By Mark Abell 14 Mar, 2023
March 14 (3/14) is National Pi Day
By Mark Abell 14 Mar, 2023
How much is this going to cost?
By Mark Abell 13 Mar, 2023
The Luck of the Irish
By Mark Abell 13 Mar, 2023
You Need a Plan
By Mark Abell 02 Mar, 2023
Can my heirs keep or sell my home after I die?
By markabell 03 Nov, 2020
Entering into a commercial lease is a complex undertaking that can be fraught with danger without the right attorney advising you. Every section, paragraph, sentence, and word has legal implications. For example, one issue that may seem clear is merely stating the square footage to be leased. However, we recently assisted a client who wanted [..] The post Square Footage in Commercial Leases appeared first on Law Office of Mark Abell.
By markabell 09 Oct, 2020
The loss of a loved one is a traumatic experience in the lives of those who remain. No matter what caused the death of your loved one, your life is forever changed. Nothing can bring your loved one back. But filing a wrongful death claim can help you heal by taking the time to mourn [..] The post How do I Know if I have a Wrongful Death Claim? appeared first on Law Office of Mark Abell.
By markabell 07 Oct, 2020
Recently, a client came to us after having a considerable judgment entered against his company. Fortunately, we negotiated a settlement agreement to satisfy the judgment for less than the full amount owed. Bankruptcy is not the only option. A money judgment may be satisfied either upon full payment of the amount necessary to fulfill the [..] The post Negotiating Down Judgments for Pennies on the Dollar appeared first on Law Office of Mark Abell.
More Posts
Share by: