Creating an estate plan is essential for ensuring that a person’s assets end up in the intended hands when he or she passes away. However, estate planning can be just as helpful for an individual’s furry family members as it is for his or her human loved ones. Here are some tips for developing an estate plan in Texas with one’s pets in mind.
Tips for creating an estate plan that benefits pets
Considering people’s relationships with their pets are special, considering what will happen to them when their owners pass away is critical. If people fail to designate legal guardians for their pets, these animals may be placed in shelters instead of family members or friends that the pets trust. More than 500,000 pets are placed in shelters yearly because they were not accounted for in estate plans.
Pet owners would be wise to identify beneficiaries for their pets in their estate plans and provide detailed instructions for the pets’ care. Some companion animals might have medical conditions requiring specific dietary restrictions or regular vet visits. Creating pet trusts is another way for pet owners to protect their furry friends by naming trustees and charging them with distributing money for their pets’ benefit.
How an estate planning attorney can help
Hiring an estate planning attorney as soon as possible is a wise move for an individual in Texas who wants to ensure that his or her assets end up in the right hands upon his or her passing. The attorney can help draft a comprehensive plan that reflects the individual’s desires regarding the distribution of assets like real estate and bank funds. The attorney can also update the estate plan as needed in the years ahead.