According to a Wall Street Journal post by Karen Blumenthal, she discusses how the law treats pets more as chattel versus members of the family, which leads to the possibility that your "precious pooch or coddled cat could easily end up in a shelter - or worse - if you die or are unable to care for it."
This legal agreement costs between $39 to $79, whereby the ASPCA will receive 10-15% of the price, depending on where the buyer clicks from.
It is also suggested, the pet owners might think about leaving additional funds in their will, specifically earmarked for the care of their pet, after they're gone. Blumenthal in her article states a caveat to leaving money for your pet. "For amounts of, say, $25,000 or more, you can create a pet trust, naming a trustee to manage the money, who may be separate from the caretaker. You should also specify where any money remaining will go when the pet passes away."
However, according to Mary O'Reilly, a Minelo, NY trusts-and-estates lawyer, she cautions that often "there's not a lot of sympathy when grandma gives her estate to her cat." And in those cases, where you might have relatives fighting over monies left to a pet, you should consider a "no-contest clause" which deletes the share for other beneficiaries should they contest your wishes.
Readers, what are your thoughts regarding consideration for the well-being of your pet after your gone? Are there additional options available that have not been highlighted here?
Illustrations in this post are credited to the ingenious talent of Jon Reinfurt. Check out his complete portfolio here.