In past articles, I have stressed the importance of having a plan and reviewing that plan on a regular basis.
That has and will always be my advice. I have discussed various aspects of what should be included in the plan, who should be included, how often to review, what types of documents should be included, etc.
One thing, however, that I have not covered yet is a subject near and dear to my heart - our pets.
What happens to our furry, feathered or scaly friends when we pass? With the recent hurricane activity we’ve seen, this has certainly been an issue in the forefront of many people’s minds.
So, how can we make sure that they are properly taken care of? There are several ways. Pet trusts is one of those ways. All 50 states (except Minnesota) now recognize pet trusts and allow owners to set aside funds for the care of their fur babies.
In most states there are limitations placed on these trusts such as:
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The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.