As Long Island residents prepare their trust accounts as part of their estate plan, there is one aspect they can't overlook: their pets.
Just as people make plans for the care of their children in the event of their deaths, experts say they shouldn't take chances with the care of their beloved animals. No one should assume that friends or family members will follow through on assurances that they will look after the pets.
It isn't unusual for pet owners to prepare a "pet trust" that outlines just how they want their animals cared for. The trust can name a guardian and specify everything from the food the pet should be given to the manner in which the pet should live. Funds also should be allocated for such care. While not every state recognizes pet trusts, New York does.
According to the Humane Society of the United States, between 4 million and 6 million pets are euthanized annually, and many of those stem from owners not including the pet in an estate plan.
The instructions left for the care of the pet must be specific and outline all the wishes people have for their pets, which includes instructions for medical treatment.
At least two New Yorkers are known for having provided for animals as part of their estate plan.
Hotel queen Leona Helmsley left millions to her Maltese dog, Trouble, after her death in 2007. Until Trouble passed away in late 2010, she lived in a Florida hotel with a caretaker, and her care cost approximately $100,000 a year. Because of kidnapping and death threats, a full-time security guard was assigned to her, news reports said.
Socialite Brooke Astor also left funds for animals when she died in 2007 at age 105. She bequeathed $250,000 to the Animal Medical Center in New York City to provide for veterinary care.
Source: NJ.com, "If our pets outlive us, how assure their future?," Pat Summers, Feb. 12, 2012



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