Posted by taxguru on April 7, 2002
Leaving Everything To Your Pets
It seems that there are a large number of people in the same positions as Sherry & I are, with only non-human dependents. Estate planning for such heirs is a little trickier than the standard “leave everything to the kids” scenario that parents of human offspring have available. According to this informative article from the Wall Street Journal on how to structure things for the benefit of pets who outlive their owners, there are already 17 states that have laws that specifically allow people to create trusts for their pets. You can always tell a growing trend by the areas in which attorneys specialize. More of them are concentrating on pet estate planning, for $200 to $300 per hour.
KMK
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