It is no secret that a lot of our elders experience loneliness after their spouses pass away and their children and grandchildren are busy living their own lives. This can lead to depression, and this is of course a very serious mental condition that can have a debilitating effect on your overall well-being.

One possible solution for people who are looking for some company later in their lives can be pet ownership. Pets are great companions that can truly make a difference in your life if you are a senior citizen who is experiencing loneliness.

A pet can give you a renewed sense of purpose as you once again have a dependent in the household, and of course there are few things more entertaining than to witness their antics. They need exercise so you suddenly have a reason to get more exercise yourself. And some pets can even provide you with personal protection.

If you do own a pet as a senior citizen it is important to include provisions for your pet when you are planning your estate. The first step would be to ask around in an effort to find someone who is willing to care for the animal should it become necessary. Most people have a family member or friend who would be a good candidate.

You also have to make sure that the caretaker has the financial resources that he or she will need to provide for the pet’s needs. Many people will simply leave a direct bequest to the caretaker, and the creation of a pet trust is a possibility in the state of Florida as well.

To explore the subject of pet planning with an expert, take a moment to pick up the phone to arrange for a consultation with a good estate planning lawyer.

Ryan, Hicks, Cumpton & Cumpton LLP is a member of the American Academy of Estate Planning Attorneys.

The field of elder law involves examining all issues that are relevant to seniors citizens. Of course financial realities are a big part of the equation, but there is the idea of addition by subtraction that many people overlook. Health care costs are a big concern in the senior community.

As well as physical health, mental and emotional health are important as well and in fact they can impact your physical health. The healthier you are the higher your quality of life will be, but in addition to this it will also improve your financial standing because you will incur fewer health care costs.

One of the emotional issues that many seniors face is that of loneliness and a lost sense of purpose. When you are used to a lifetime of people depending on you with a partner by your side, if you find yourself alone with no one relying on you it can be depressing. This is a fact of life that many people face, but one way to respond to it is to be positively proactive about altering your household dynamic by bringing a pet into the home.

Pet ownership can assuage loneliness and provide elders with a renewed sense of purpose as they suddenly have a cute and loving dependent once again. Pets can also aid from a physical health perspective because they need exercise, and taking a walk with your dog every day is going to benefit you as well as your fine furry friend.

Of course if you take it in a pet later in your life the animal may outlive you. For this reason pet planning is key. You have to identify a caretaker who would take over for you should it become necessary to provide for the animal financially. There are a number of ways you can go about this from a legal perspective, and if you are a senior pet owner who would like to explore them simply take a moment to arrange for a consultation with a licensed, experienced estate planning lawyer.

Ryan, Hicks, Cumpton & Cumpton LLP is a member of the American Academy of Estate Planning Attorneys.

Estate planning can be quite involved and there is a lot to take into account. Given this fact it would not be hard to overlook some of the smaller details, and believe it or not there are those who don’t consider their pets when they are planning for the future.

There are different reasons for this, ranging from simply assuming that someone will spontaneously step in and assume ownership of the pet to the expectation that you will outlive your pet. The reality is that you never know what the future holds no matter what age you are.

And beyond that, many senior citizens find that pet ownership can fill a lot of the voids that exist in their lives. They clearly make great companions, and their antics can be quite entertaining. The fact that they need to get outside and get some exercise can provide the owner with the incentive to do so as well. And, pet ownership can provide a lonely senior with a sense of purpose because there is once again a dependent in the house who needs care and attention.

The famed fashion designer Alexander McQueen certainly took the need for pet planning to heart. He passed away last year by his own hand, and he left behind three beloved dogs named Callum, Juice, and Minter. McQueen was a man of considerable means and he made certain that his pets would want for absolutely nothing after his passing. He left $82,000 to provide for them for the rest of their lives.

Clearly most of us would not have the means or the inclination to leave such a large sum. But, sensible pet planning is important if you want to be certain that your fine furry friends are provided for after you pass away. To learn how to go about it, simply get in touch with an experienced estate planning attorney to arrange for a consultation.

Ryan, Hicks, Cumpton & Cumpton LLP is a member of the American Academy of Estate Planning Attorneys.

When you are planning your estate there are going to be a lot of things on your mind, and rightly so. Transferring the assets in your estate to your loved ones is going to be your final act of giving, and this is an extremely profound experience. Plus, if you are comprehensively planning for all the eventualities of aging you have a number of other circumstances to consider as well. With so many things to sort out it would be easy for some of the lesser details to fall through the cracks, and one of these may have a furry coat and four legs.

Yes, your pets need to be planned for as well. It is natural for people to expect that they will outlive their pets, but this is not always the case. This is especially true when you acquire a pet once you have reached retirement age, and pets can indeed be great for seniors. They provide love and companionship, many will act as protectors, and having a dependent of sorts relying on you can give you a renewed sense of purpose. In addition, because pets need to get out and get some exercise this may lead to you becoming more active which is good for your mental and physical health.

To make sure that your pet is provided for should you die first the initial step is going to be to identify a willing and able caretaker. Once you find someone who agrees to care for the pet, you will have to make financial provisions. One way to go about this would be to simply leave a direct bequest to the caretaker in your will.

Alabama is among the majority of states that allows for the creation of trusts intended to provide for the care and maintenance of the pet. This is an option that is available to you as well. If you’re interested in learning more about the specifics of pet planning simply arrange for a consultation with an experienced estate planning attorney.

Ryan, Hicks, Cumpton & Cumpton LLP is a member of the American Academy of Estate Planning Attorneys.

Many people believe planning for the care of a beloved pet that is alive at their death is an important part of their estate planning. Before the passage of Pet trust laws, it was difficult to leave funds to care for a pet because the common law considers pets to be chattel. It was illegal to make the pet the beneficiary of a trust.

Florida and Alabama have enacted trust laws that are based on the Uniform Trust Code. In essence these statutes allows for the creation of a pet trust with the following provisions.

• Animals must be alive during the settlor’s lifetime
• The trust terminates on
  • The death of the animal that is the beneficiary of the trust or
  • If created for more than one animal when the last surviving animal dies
• The settlor can appoint a trustee to enforce the trust or a trustee can be named by the court.
• Property of the trust can only be used for the purpose of the trust unless the court determines that the trust property value exceeds the amount needed for the care of the animal.
• Property not needed for the intended use of the trust will be returned to the settlor. If the settlor is deceased, it will be distributed to the successors of the settlor.

The Pet trust follows the same formalities of basic trusts. Property must be adequately titled unless the grantor leaves a significant amount of money to fund the trust. Setting up a pet trust is not a do it yourself proposition. The counsel of an attorney experienced in this area of the law is advisable to insure that the trust meets the needs of the pet and achieves your goals in establishing it.

Ryan, Hicks, Cumpton & Cumpton LLP is a member of the American Academy of Estate Planning Attorneys.