Autumn Years Spring 2024

FINANCIAL PLANNING

Estate Planning When You Are a Pet Owner By Nima Ashtyani

Many pet owners’ worst fear is that their pet will end up in a shelter if they suddenly pass away or are incapacitated. Good planning can help make sure that your pets are taken care of no matter what happens.

E veryone who owns a pet should have legal documents in place that will secure their pet’s long-term health and well-being in case of unforeseen circumstances. Unfortunately, any of us could be in a car accident, fall suddenly ill, or for reasons we do not like to imag ine, not be able to be there for our pets. Whatever your age, it is time to plan for your pets, just in case. They will be safer, and you will be exercising an important but often overlooked duty of a respon sible pet owner. As pet owners, we know that properly caring for a pet can be expensive. There is food, cat litter, a dog walker if necessary and the ever-rising cost of veterinary care. Just as you can create a trust for the care of a child, you can create a trust for your fur baby. Thoughts on selecting a caregiver Choosing a responsible caregiver to take over the care of your pets in case of your death or if you are incapacitated is essen tial. This person should be ready to adopt your pets, even if you are temporarily hos pitalized due to an accident, for example. It can be hard to find a willing care giver. Make sure that you have detailed discussions with potential caregivers and that they are willing and able to take your pets if need be. It is best if this is someone your pet already knows. If you are able to provide a pet trust, which will help with financial needs of your pet, that will help ease the burden on a new caregiver.

Document conditions like arthritis that makes it necessary for a dog or cat to have a stool or platform from which to jump into the bed or a window. As your pet’s “parent,” you know his or her needs best. Make sure your pet’s desig nated caregiver knows them too. Talk to your family and friends Make sure that your family and friends are aware that you have a plan, a pet trust and legal documents designating the new caregiver for your pets. A time of death or hospitalization can be confus ing, and you do not want your pet to end up missing a minute of essential care. Talk to your family and friends about your caregiver, why you choose him or her, and your plan. Some family members are more “pet people” than others so make sure who ever the caregivers are understand the importance of your pet’s care. Let them know how vitally important a part of your life your pets are and how they can honor your memory by making sure your pets are safe and happy according to your wishes.

Detail care instructions You will need to create detailed instruc tions for the long term care of your pet. As pet owners, we know that each dog, cat, bird or fish is different. Who is your pet’s veterinarian? Does your pet have medical needs, such as a thyroid condi tion, diabetes, kidney issues or other medical problems that will require both immediate and ongoing care in the event you are not there? What are your pet’s daily routines? How often does your dog need to be walked? What are your pet’s favorite foods? Does he or she have a special medical diet? You should make this specific enough to give your designated caregiver the ability to make your pet’s transition smooth. Make sure your pet’s caregiver has all the necessary documents, including your detailed care plan, your pet’s medical records and veterinarian contact informa tion. It is best to also provide copies to anyone who might be making decisions on your behalf in the event of your sud den death or incapacitation. Also, our lives change, and so do our pets’. As our pets age, they may de velop medical conditions or other special needs that you will want to update in your detailed care plan. Make sure your designated caregiver is informed of any changes as well. Even if you are only temporarily incapacitated, for example due to an accident, you want your pet’s care to continue uninterrupted.

Nima Ashtyani is a partner with the Stratton Ashtyani Law Group in Franklin Lakes, NJ (www. LawGroupSA.com). Nima focuses

on estate planning, elder law, estate and civil litigation, and dispute resolution. This article is provided for general information only; it is not legal advice and should not be acted on before consulting with an attorney.

22 AUTUMN YEARS I SPRING 2024