Tuesday, February 2, 2010
The following is a list of estate planning steps a pet owner should take according to Sue Stevens, who discusses pet planning in her book Put Your Money Where Your Heart Is, as reported by Mary Alexander, Adviser Counsels Pet-Friendly Planning, WSJ Blogs, Jan. 7, 2010:
- Select a guardian for you pet who understands your pet's needs and wants to care for your pet.
- Figure out how much it will cost to care for your pet. According to recent survey, a dog needs $1,400 annually and a cat needs $1,000 annually.
- Add pet care language to a trust and leave instructions on how to care for your pet.