L. Paul Kassouf & Co

 

60-Second Financial Advice

July 1, 2013

Estate Planning for Your Pets

Most pet owners consider their pets part of their immediate family. However, only a small percentage of pet owners take legal steps to ensure their pet is cared for if they become disabled or die. Pet Trusts and Pet Protection Agreements are two techniques to discuss with your estate planning attorney.

 

A Pet Trust is valid during the pet owner's life and after death. A Pet Trust controls the disbursement of funds and allows for an investment trustee separate from the pet guardian.

 

A Pet Protection Agreement can provide all the planning required without creating a trust. The agreement may include the type of care to be provided and may designate a source of money to provide for the pet's care. The designated pet guardian must sign the agreement to make it effective.

 

Please feel free to forward this message along to your friends and family.

 

This newsletter is intended to provide you with general financial planning tips. If you have a specific question regarding your financial planning or tax situation please contact us.

 

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L. Paul Kassouf & Co, P.C.

(205) 443-2500

www.kassouf.com