If you love your pet like family, then you should consider a Pet Trust. Follow this link for Free
Pet Trust Information: http://bit.ly/2K1SjcU
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- Scooter here is going to join us and tell us why it is so important that you have a pet trust if you love your pet.
- Welcome to 2 Minute Tuesday where I attempt to discuss an estate planning topic in two minutes or less. Now, before we get started, if you're enjoying these videos every Tuesday, can you please do me a huge favor and hit the subscribe button in the right-hand corner below. I would really appreciate it.
- Today we're going to talk about pet trusts, and I have the honor of babysitting Scooter here for the next week, and he wants you to know all about pet trusts and why you should consider one. You know, you always here crazy stories about this Hollywood celebrity or that Hollywood celebrity leaving millions of dollars to their little pet, and I think that has kind of given pet trusts a bad name.
But the reality is that many of us love our pets just as much as we love our family. Sometimes even more. And that is completely understandable, because our pets are our family. So today when we do revocable living trusts as part of a trust centered estate plan, we advise, that if you do love your pet like a child, then you should provide for them. Now, we're not talking about millions of dollars like you hear happens in Hollywood. However, you do want to look at two things when considering a pet trust to protect your pet like Scooter here.
The first is, who do you want to take care of your pet? Just like you should take the time to decide who is going to be your successor, trustee, or Power of Attorney, you should really look at and think about who you would want to care for your pet. And someone who would give your pet the same love that you give to them every single day.
The second thing to consider is how much money you should leave to your pet. Now, the best way that I've been able to figure this out is to actually make a calculation. How much does it cost for food and medicine to take care of your pet on a monthly basis? And then what is that on a yearly basis? And then how much money do veterinary cost on a regular basis? Add those two numbers together and multiply how many years you think your dog, or your pet, might survive you. And that's a number we probably want to set aside in your trust specifically for your pet. So this is not something that is difficult to figure out, but you can go a long way in making sure your pet, like Scooter here, is taken care of if anything should happen to you.
If you'd like more information about pet trusts then click on the link that I'll put in the comments below, so that you can download a quick PDF on what you should consider in coming up and deciding your pet trust. Pet Trust Information: http://bit.ly/2K1SjcU
- Well, that's all for today. I think I actually made it under two minutes today. But if you enjoy these videos, then please, like it below. And please hit the subscribe button. Or click on my face in the circle that should be appearing about now so you'll get our new videos every Tuesday. And, as always, we appreciate you watching, and I'll see you next time. Thanks again.