Post by Beyer on Oct 9, 2010 7:21:57 GMT 4
Critters in the Estate Plan
Gerry W. Beyer
Texas Tech University School of Law
NYSBA Trusts and Estates Law Section Newsletter, Vol. 43, No. 2, p. 25, Summer 2010
Abstract:
Shadow, Dolly, Spot, Lady, Ming, Trouble, Roxy, and Madam Shan are just a few of the pets that have received favored treatment in their owners’ wills. Because of the foresight of their humans, these beloved companions lived out their lives in comfortable surroundings rather than meeting the Grim Reaper in the local animal shelter’s death chamber.
Virtually all clients want to provide for their pets but few actually do. Why is this? For the most part, either they do not plan their estates as is the case with most Americans or their estate planning attorneys neglect to explain how they can make arrangements for their four-legged, feathered, or scaly friends.
Lawyers should, and may be ethically obligated to, inquire about their client’s pets so that they can make certain their clients’ pets are properly cared for when the client is unable to do so due to injury, illness, or death. This article provides information designed to assist estate planners to carry out the wishes of their pet owning clients.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1666370_code461383.pdf?abstractid=1666370&mirid=2
Gerry W. Beyer
Texas Tech University School of Law
NYSBA Trusts and Estates Law Section Newsletter, Vol. 43, No. 2, p. 25, Summer 2010
Abstract:
Shadow, Dolly, Spot, Lady, Ming, Trouble, Roxy, and Madam Shan are just a few of the pets that have received favored treatment in their owners’ wills. Because of the foresight of their humans, these beloved companions lived out their lives in comfortable surroundings rather than meeting the Grim Reaper in the local animal shelter’s death chamber.
Virtually all clients want to provide for their pets but few actually do. Why is this? For the most part, either they do not plan their estates as is the case with most Americans or their estate planning attorneys neglect to explain how they can make arrangements for their four-legged, feathered, or scaly friends.
Lawyers should, and may be ethically obligated to, inquire about their client’s pets so that they can make certain their clients’ pets are properly cared for when the client is unable to do so due to injury, illness, or death. This article provides information designed to assist estate planners to carry out the wishes of their pet owning clients.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1666370_code461383.pdf?abstractid=1666370&mirid=2