BUDGET
Show me the money!
How Much is Enough?
How much money you need to fund your Pet Trust depends on the lifestyle, age, and health of your pet. People grossly underestimate the amount of money they spend on pet care. There are many areas people don't realize contribute toward the budget for their pets to continue living their current lifestyle. It's a large undertaking to make a budget for a Pet Trust so you have confidence that the money you leave for your pet's care will be more than enough. Take into account all of the products and services you provide for your pets. That's the base of your budget.
Other Expenses
What other expenses do you have that are somehow related to the care of your pet? Do you have animal liability on your homeowner's or renter's insurance? Do you have pet health insurance? Those are common areas people forget.
Outside the Box
Now, think outside the box. Do you get your carpets cleaned because your dog has accidents in the house? Did you include the new window screens because the cat always scratches her claws on them and tears holes? When making your budget, look at the big picture as well as the details you've included in your Care Plan. We're sure there are many areas you can find that you haven't thought of including in your pet care expenses in the past.
Buffer...
You also need to include a "buffer" amount of money in your budget. These extra funds will be available if there are any emergencies. They can also pay fees for litigation if your pet harms someone or causes property damage. It's also possible for family members to sue your estate because they believe they deserve your money more than your pet does. It's important to be prepared so no money is lost from your actual pet care budget.
Brenda Marks
Kyo
Animals have always been dear to me...
Having the comfort and peace of mind knowing your beloved pet will still have a loving home, if you are no longer around, will take a great weight off your shoulders.
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