Pet Trusts Gaining Popularity
In the recent article "Pet Provisions," The Miami Herald columnist Elinor J. Brecher reports on the increasing popularity of pet trusts, which provide an estate planning tool for pet owners to insure that their animal companions will not be euthanized or confined to a cage after the owner's death. Although cases "quirky millionaires" leaving fortunes to their pets have made news in recent years, the author notes that pet trusts aren't just for the wealthy anymore, with typical plans costing just $4000.
Read the entire article here.
Hat Tip: Wills Trust & Estates Blog
Posted by Isaac Pflaum, Associate Editor, Wealth Strategies Journal
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