Pets are like a part of the family for many people. In fact, many individuals treat pets as if they were their children. This is why some pet owners decide to include their pets in their wills. One wealthy businesswoman, who was known for making a fortune owning hotels, famously left her Maltese dog $12 million in her will. This allowed the dog to live out the rest of her life with a caretaker in Florida.
However, not only wealthy people are concerned with making sure that their pets are taken care of after their deaths. This can be important for those of more modest means to consider, as well. Including one’s pet in a will communicates one’s wishes regarding what should be done to make sure that the pet is cared for. Many people do this because they are afraid that the pet will end up in a shelter or potentially homeless.
A couple in Florida is making sure that this will not happen to their dogs by creating a pet trust. They were worried about what would happen to their dogs in the case of something tragic happening, since their nearest family members were 1,500 miles away. The couple has decided to leave everything they own to their dogs in the case of their demise.
Although most people in Florida will probably not want to leave all of their assets with their pets, many pet owners may want to leave at least some money in their wills to pay for taking care of the animals. However, in order to ensure that one’s will is effective, it must be drafted in a proper and legally-valid form. Many times wills are contested if the documents are not drafted correctly, something that careful planning can sometimes help avoid.