Horses are not "pets" in the classical sense, as their needs are far greater than those of the family dog or cat. Not only does a horse enjoy a longer life-span, but horses require more wide open spaces, exercise, care, grooming and food. The upkeep on a horse can be rather expensive.
Through a pet trust you can set aside sufficient funds to provide for your horse's unique needs and ensure his care and safety should you predecease him. Even more significant, you can establish important safeguards to ensure proper deployment of those funds.
Of course, one of the biggest challenges is selecting the proper caretaker of your horse. Would a trusted loved one be willing to serve? Do not assume that charities, shelters or "rescues" would step in to care for your horse. Recent financial difficulties affecting the broader economy have likewise strained the ability for charities and horse shelters to care for horses currently under their care.
Unfortunately, pet trusts are not recognized in every state, but the problem still remains. If you are a horse owner, then your horse is an important member of your family and you must plan accordingly.
To learn more about your state laws and the alternatives open to you (and your horse), be sure to seek competent counsel.
For more information and ideas I recommend reading the original Wall Street Journal article. Be sure to share it with your equestrian friends, too.
Reference: The Wall Street Journal (March 7, 2012) "Stable Value: Putting Your Horse in a Trust" Click here to register for our eNewsletter.
For more information on Madison and Jackson MS Income Tax Plans, Wills, Trusts and Estate Planning please visit our website.
For a Video on Health Care Directive please visit our website.
?
Source: http://blog.estateplanning123.com/2012/03/large-animal-large-pet-trust.html
convulsions john tyler chuck elisabeth hasselbeck fran drescher scarlett o hara pat sajak
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.