Providing for Pets and Their Possessions

Taking care of your pets in an estate plan is no longer unusual. Their personal property is also coming into the picture.

Planning for pets has become an important part of many estate plans.  However, what is unusual is the special provisions now being included in an estate plan for their personal property. That could also be changing, according to Bravo in “The Most Bizarre Pet Items Included in Estate Planning (A Dog’s Fur Coat Collection?!)“

People are starting to make sure their pets have continued access to things, such as a specially designed gym set for a cat and a diamond encrusted feeding bowl for a dog. Nevertheless, it is unlikely that this trend will filter down to the non-wealthy. Most people cannot afford to provide their pets with such expensive items and a special provision in an estate plan is not needed for an ordinary plastic feeding bowl.

What this does show is how much people care about their pets and how much they want to provide for them. 

Reference: Bravo (April 11, 2018) “The Most Bizarre Pet Items Included in Estate Planning (A Dog’s Fur Coat Collection?!)“