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The Potter Law Firm

North Carolina and Kentucky Estate Planning Attorneys

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KY (606) 324-5516
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Home » Resources » Frequently asked questions » Pet Planning FAQs

Pet Planning FAQs

    • Can you leave your pet to someone in your will?

    • A pet is looked upon as property, so yes, you can bequeath your pet to an inheritor in your will. Of course, you should certainly make sure that the person that you have in mind is ready, willing, and able to take on the task. 

    • Is it possible to leave money to the pet that is earmarked for its care?

    • No, animals are not allowed to own any type of property. However, if you leave your pet to a caretaker in your will, you could provide this individual with a bequest. You could stipulate that you want the money to be used to satisfy the pet’s needs. 

    • Would the caretaker be legally compelled to spend the money on the pet?

    • Unfortunately, the inheritance would belong to the person, and at the end of the day, they could do whatever they wanted to do with the funds. In fact, this is an unpleasant thing to think about, but they would not even be legally compelled to care for the pet throughout its life. 

    • Is there a better pet planning alternative?

    • Yes, it would be possible to establish a pet trust for the benefit of your fine furry friend. You would fund the trust and name a trustee to act as the administrator after you are gone. The trustee could be someone that you know, but there are professional fiduciaries that could be engaged to assume the role. 

       

      Of course, the pet would be the beneficiary of the trust. In the trust declaration, you would leave behind instructions with regard to the way that you want the animal to be cared for after you are gone. They can be general directions, or they can be very specific.  

       

      The trustee would in fact be legally bound to make sure that your instructions were carried out to the letter. It should be noted that the trustee would not necessarily have to serve as the caretaker for the pet.  

      If you don’t make an arrangement with a potential caretaker in advance, the trustee could be instructed to find one. Funds that have been conveyed into the trust could be used to pay a caretaker if necessary. 

       

      Calculating exactly how much will be necessary to care for the pet for the rest of its life can be an imperfect science. Fortunately, the matter is simplified when use a pet trust, because you can simply err to the side of excess. If there is anything left after the pet’s passing, it would be transferred to a successor beneficiary that you name in the trust agreement. 

Schedule a Consultation Today! 

 

As you can see, there is a perfect solution for elders who would like to enjoy the benefits of pet ownership late in their lives. If you would like to discuss pet planning or any other estate planning matter with a licensed estate planning attorney, we would be more than glad to help. 

 

To schedule a consultation in the Charlotte, North Carolina area, give us a call at 704-944-3245. Our number in Kentucky is 606-324-5516 (Ashland, KY) or 859-372-6655 (Florence, KY), and you can send us a message if you would like to request a consultation appointment at either location. 

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Testimonials

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Overall The Potter Firm was very professional. They took what could of been a very complicated process and were able to break it down so it was a lot easier to understand. We are confident we now have made the right decisions in our estate planning. Good firm to work with.

DKS & KMS Client Review August 28, 2020

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John Potter has been a real pleasure to work with. He is very knowledgeable and explains things in a very simplistic manner so the average person can understand how/why the laws are written. He is very attentive and asks questions in such a way that not only helps him understand your goals, but also helps you think about what type of goals and expectations you should be considering. Exemplary client service.

David J. Client Review August 28, 2020

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My husband and I selected Ms. Potter to assist with our small business. She responsive and attentive every time I have a question or need assistance, and is extremely knowledgeable and able to answer any legal question I have had. I know I can count on Ms. Potter for all of my business legal needs and I would highly recommend her to anyone needing legal assistance with such.

Jillian Client Review August 28, 2020

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Where We Are

Ashland

ASHLAND
1620 Carter Avenue
Ashland, KY 41101-7631
Phone: (606) 324-5516
Fax: (606) 324-4766

Charlotte

CHARLOTTE
15720 Brixham Hill Avenue
Suite 300,
Charlotte, NC 28277
Phone: (704) 944-3245

Huntersville

HUNTERSVILLE
11330 Vanstory Drive
Huntersville, NC 28078
Phone: (704) 944-3245

Northern Kentucky

NORTHERN KENTUCKY
7310 Turfway Road
Suite 550,
Florence, KY 41042
Phone: (859) 372-6655

Office Hours

Monday8:30 AM - 4:30 PM
Tuesday8:30 AM - 4:30 PM
Wednesday8:30 AM - 4:30 PM
Thursday8:30 AM - 4:30 PM
Friday8:30 AM - 3:00 PM

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