Your Fur-Babies Are Not Considered Dependents for Tax Purposes

Although your fur-babies are not considered dependents for tax purposes, there are reasons to add them to your estate plan.

The Humane Society estimates that half a million pets get sent to shelters every year because their owners die or become incapacitated.

Keep the following ideas in mind:

● Invest thought into appointing a caregiver for your pet.

● Choose alternate caregivers as well, in the event that your chosen person can’t handle the job for whatever reason.

● Write down all instructions, specifications and commitments.

● Plan to set aside funds for the pet’s care. When we discuss pet planning with you, we’ll show you how and when assets can be funded into your pet trust.

● Don’t go overboard. If you leave too much money to a pet – particularly at the expense of another worthy beneficiary, such as a child – the arrangement could be contested.

Please contact our team today to learn more about how to plan for your pet and get peace of mind about his or her future care. Call Littleton Legal (918) 608-1836 to schedule your consultation.

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