Estate Planning for Pets
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 8 July 2019
⏱️ 29 minutes
🧾️ Download transcript
Summary
When you're talking about estate planning, and the care of pets, some interesting things can happen. It's not uncommon for people to want to provide for their pets in their wills, whether designating the person who will care for the pet, or providing money to care for the pet. There used to be a lot of pitfalls when creating plans for pets. Technically, an animal is property and the animal has the same legal rights as any other property (like a couch). This is really hard for animal people to comprehend. Get the information you need by listening to this episode. For more information, visit the show notes at https://www.bigpictureretirement.com/estate-planning-for-pets
Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide specific tax, legal, or financial advice. |
| 0:05.1 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:13.0 | Hello, everyone. Welcome to The Big Picture Retirement Show. This is the podcast for anyone who is planning for or living in retirement. |
| 0:20.6 | I'm Devin Carroll, joined by |
| 0:22.0 | John Ross. Hey, John. Howdy. All right, John, we've made it through half the year. |
| 0:31.3 | Yeah, I guess so. Right past July 4th. Did you have a good fourth? Absolutely. Good, good, good, good. |
| 0:37.8 | Okay, so while you were visiting with your family, and I know while I was visiting with my family, the conversation I know had to come up about all of the pets you own. |
| 0:48.9 | Yeah, I don't own any pets. |
| 0:50.6 | I know. |
| 0:51.1 | It's too bad. |
| 0:52.3 | I'm a dog guy, but right now, I am busy. I'm too busy. |
| 0:58.3 | You think so? I am too busy for a dog. For a dog? It is not fair to the dog. Oh, please. There's a |
| 1:05.7 | dog out there that needs the love and attention that only you can provide. Well, that's the case, though. |
| 1:09.9 | I leave the house at 7 o'clock in the morning, sometimes not getting home until 7 o'clock at night. So that's not fair to the dog. Listen, I've been inside your car. Having a dog in there isn't going to do any further damage. Actually, I had considered it with the idea of I could bring the dog to the office. Absolutely. But I have staff that are terrified of dogs. Please. Terrified of dogs. Terrified. Literally run out of the room. Really? Terrified. Well, you know, I just can't do it. So I can't leave them at the house all by themselves. And I can't bring them to the office because that's just not fair to the staff. So we have just foregone. Now, I will say that my wife is dog bonkers at the moment. She's following the UPS dogs Facebook page where it's just pictures of UPS drivers being greeted by dogs. Oh, I didn't know about this. Oh, yeah, no, UPS dogs. You should check it out. It was one of the UPS drivers who started this page on his route. He carried dog biscuits. And so the dogs just got trained that when the UPS driver shows up, so here would come all these dogs. And so he started taking pictures of it. And then other UPS drivers started taking |
| 2:18.0 | pictures and posting on his page. The UPS dog's page has more followers than the UPS page. |
| 2:27.8 | That goes back to show what the true intent of social media is, right? |
| 2:31.6 | Right. I mean, it's about people posting pictures of the dogs, right? |
| 2:34.7 | And it's a great page, and it's a lot of fun, you know, different pictures. And there's always have the dog's names. The other day, oh, what was it? There was a big, fat, droopy-faced dog, and it had the best name, and now I cannot think of it. Oh, it's going to drive me nuts. This goes to show you, people are |
| 2:52.3 | serious about their dogs. Oh, yeah. They are serious. They are not messing around when it comes to |
| 3:00.0 | their pets. No. It's kind of an interesting thing when you start talking about estate planning. |
| 3:05.5 | To hear what people want to do as it relates to their pets, |
| 3:09.4 | this has become a bigger and bigger issue over the years. And one that I have fought a couple of |
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