With so many unforeseen challenges in life, many parents and even grandparents make out wills and plans to leave their homes or assets to family or friends just in case of a worst-case scenario.
But many are now also including plans for their pets in their estate planning.
Jordyn Romero is obsessed with her 4-year-old Husky puppy named Caesar.
With no human babies in her family just yet, the 130-pound-dog gets all the love and attention, as well as the priority in planning for the future.
“When we got married, we sat down and kinda talked about a lot of that stuff -- you know, about his investments, about our home, about our future children and what would happen, and right now our pets are everything,” Romero explained.
Romero is part of a growing number of pet parents now including their furry family members in their estate planning.
“I can only tell you from personal experiences and professional experience, this is going to save a lot of time, money and grief for people in the pet space,” Estate Studio President Barry Haimo said.
Haimo has been working on those “what if?” scenarios for nearly two decades. But he is going one step farther than many attorneys, providing a website which includes pet planning for free.
“We see a lot of things, a lot of crazy stories and a lot of sad endings, and yes, one of those things we have seen is pets that have been displaced that have no home, they have no guardian,” Haimo said.
Imagine a freak accident or a familial loss -- maybe a will or a trust is in place for children -- assets or a home -- but what about those munchkins? Where will they go? Who will take care of them?
“We have created this assessment that allows the people who transition -- the new guardians, the new owners -- to have all the essential information that will be necessary to make a smoother transition for that animal,” Haimo said.
Things like the pet’s medical history, vet clinic, dietary menus, daily routines, quirks and special needs can all be recorded for the future named pet parents.
“We have a dog and we have a cat, so understanding if anything was to happen to us in that circumstance, you know, who would take him, who would be his new guardian, are they prepared? He has monthly medications. He’s a Husky -- they are a more temperamental breed,” Romero said.
When it comes to estate planning, one of the biggest issues is fear. So think about it this way; you’re not so much planning for your death, as you are planning for your pet’s future life.
Caesar and 3-year-old Ivey will go to Romero’s in-laws if anything happens to her and her husband. It’s peace of mind she was able to guarantee.
“Making sure that their wellbeing is taken care of is an act of responsibility as well as an act of love,” Haimo said.
For more information on estate planning for your pet, click here.
You can fill out the Estate Studio free pet care directive in minutes and save the information for yourself and others regardless of what the rest of your estate planning entails.
