While it is true that our furry friends do not live as long as we do, it is important to consider what would happen to them if we were to become incapacitated or precede them in death. Many pet owners just assume that a family member would take over the care of their pets but this is not always the case. The best thing you can do is have a plan in place for their long term care. Here are some steps you can take to be better prepared.
- Speak with a lawyer to set up a trust or include your pet in your will. The benefit of a trust over a will is that you can activate the trust while you are still alive in the event that you are unable to continue caring for your pet. A will may take longer to process and follow through, leaving your pet in an uncertain circumstance.
- Designate a responsible friend or family member to take over the care of your pet.
- Keep a copy of your pet’s medical records, medications and brand of dog food along with any information regarding special care.
- The average amount put into a trust for pets is $15,000-$25,000.