Pet Power – Understanding Estate Planning for Your Pets

Pets are an integral part of American life. For many, the great joy, love, affection, and satisfaction derived from the experience of pet ownership is one of life’s great experiences. Millions of pet owners across the country make huge sacrifices for the care and maintenance of their pets and consider them part of their family. Pet ownership also provides many ancillary benefits to people, including improved health. Stephen R. Elville, Managing Principal and Lead Attorney of Elville and Associates, P.C., leads a discussion about how individuals may develop pet-related provisions in their estate plan for the care, maintenance, security, and long-term well-being of the pet(s), thereby creating an empowering situation for the owner, the trustee of a trust for the benefit of a pet, the caretaker or custodian of the pet, and for the pet itself. The following topics are discussed:

 

(1) Why clients should consider the use of pet care provisions in Wills and Trusts;

(2) Why pet care provisions in power of attorney documents are equally important;

(3) Understanding Maryland law relating to pet trusts;

(4) Utilizing a stand-alone pet trust versus other alternatives;

(5) Understanding practical pet care provisions outside of formal pet trusts;

(6) Utilizing Letters of Wishes for pet care;

(7) The structure of pet trusts – how does it all work; and

(8) The funding and alignment of assets in pet trusts and pet care-related provisions.

 

More Webinars from Elville and Associates

The education of clients and their families through counseling and superior legal-technical knowledge is the mission of Elville and Associates.  We hold multiple educational events every month. Click to view our calendar of educational webinars and events or visit the Elville and Associates YouTube channel to view recordings of our past webinars.