118: Do You Need an Estate Plan for Your Furry or Feathered Family Members?

You’ve probably heard stories of celebrities leaving their fortunes to their beloved pooches and thought, “How silly!” Sure, it’s unlikely that an animal needs millions of dollars - after all, what will they do with it? But if you’re a pet person, have you stopped to consider what will happen to your sidekick after you’re gone? People don’t think about how long animals can live. Dogs can live anywhere from 8-16 years, and cats from 12-18. And those are your household four-legged friends. What about fish and birds? Koi fish live anywhere from 25-35 years, and parrots can live up to 50 or 65 years – who knew?! Don’t forget there are lizards, turtles, snakes, and even horses that could outlive you.

“Estate planning for your pets is important for several reasons. The first, of course, is that you love your pets like a child, and you worry about what will happen to them when you’re gone.”

If an owner does pass, often, the pet is left out of the picture, and a family member gets stuck with the burden of caring for them on their own, facing vet bills, grooming expenses, daily care, and more. Even worse than leaving a loved one with the responsibility is your poor puppy ending up at the pound.

Fortunately, a little bit of planning goes a long way to ensure your pet friends get the quality of care they deserve. It can be as simple as researching rescues, having a conversation with the person you want to designate to ensure they are on board during your pet estate planning process, or setting up a pet trust. In this episode, Kirsten and Madison will talk more about,

Why it’s essential to include all pets, from goldfish to horses, in your estate plan. The variety of options available to ensure quality pet care after you’re gone. Why it is important to include a financial incentive, maybe not millions, but enough to cover the needs of your pet. Fun stories of celebrities who made big plans for their pups. How to hold your pet caregiver accountable after you are gone.

And much more!

So, saddle up (if you’re estate planning for a horse, that is) because this episode has as much fun and enthusiasm as it does information and inspiration. It’s never too late to start planning, and listening in is a great way to start!