When you're planning your estate it is a good idea to engage the services of an estate planning attorney for a number of different reasons. For one thing, there is more to it than simply drawing up a last will. A last will is one way to transfer assets to your loved ones, but there are other options as well and the ideal strategy is going to vary depending on the identity of your assets and exactly what it is that you want to accomplish with your estate. Another reason why it is … [Read more...] about Alexander McQueen Left Three Dogs $82,000
Pet Planning
Estate Planning: Pets Must Be Provided For Too
Estate planning is part of the broader legal specialty of elder law, so estate planning attorneys stay abreast of all of the issues that are relevant to seniors. Clearly, the health and well-being of our nations elders is a matter of great importance. From a psychological perspective, seniors can sometimes experience loneliness and the loss of a sense of purpose once they are retired and their family members have become independent. Clearly, this can lead to depression, and … [Read more...] about Estate Planning: Pets Must Be Provided For Too
Estate Planning & Pets
It is not uncommon for people to procrastinate when it comes to planning for the future. Though it is always best to take the bull by the horns and get started as soon as possible, there is so much to consider it can be overwhelming. Once you start planning your retirement and the ultimate distribution of your wealth after you pass away, one thing leads to another and you then find yourself making preparations for other eventualities of aging, such as possible incapacity. … [Read more...] about Estate Planning & Pets
Why Pet Planning Matters
As a responsible pet owner, you’ve probably considered who you would prefer to look after your pet in the event of your death, but are you sure you’ve covered all your bases when it comes to thorough pet planning? Let’s say that you have a dog and a cat, each of whom you’ve asked to be cared for by a separate individual. You’ve set aside funds for the general care of your pets, but have not clarified how much is to go to the care of each pet specifically. The situation could easily become … [Read more...] about Why Pet Planning Matters
Pets and Estate Plans
If you have pets, you likely consider them part of your family. You may be concerned about what will happen to your pets when you die. Some people have actually provided an inheritance for their pets, but there are some complications with this. Legally you cannot leave money to a pet. What you can do is leave your pets to someone, along with money to take care of those pets. If you’re considering this option, you may want to put together a detailed plan for the care of your pet; such plans … [Read more...] about Pets and Estate Plans
Pet Trusts Ensure Your Animals' Well Being
If you worry about what will happen to your pets should you die , you are not alone. Leona Helmsley, New York real estate magnate, dubbed “The Queen of Mean” because of how she treated her employees, died in 2007 and left roughly $12 million to her dog, Trouble. A judge later reduced that amount to $2 million. Most of our pets, even the spoiled ones, could get by on a lot less. Thanks to a change in the 1990 Uniform Probate Code, most states now allow you to provide for pets in estate … [Read more...] about Pet Trusts Ensure Your Animals' Well Being
