Should you do estate planning
for your pets?

We all know estate planning is an important part of being financially responsible and leaving things in order for our family so they don’t have to worry about when we die. But, did you know that estate planning for our pets (or our furry kids) is equally important?

Did you know:

• 68% of the households in the United States have at least one pet.
• Less than 40% of dog and cat owners have named a pet caretaker upon their death.
• Only 12% of dog and cat owners have made financial provisions for their pets in their will.
• According to the legal world, pets are property, so they can’t inherit money, but you can assign a guardian and set aside funds to cover the cost of their care after your death.

In this Nothing Funny About Money segment, I talk about the importance of estate planning for our pets and offer some tips on how to break money silence and get the conversation started with friends and family about taking care of our furry kids.

Show Notes:

• Learn more about what to do about your pet following your death here.