There are many people and expenses that need to be considered when drafting your final will and testament, but not everybody considers allocating money for their pets. Leona Helmsley famously left her dog $12 million and cut her family out of the will, but most people will want to be able to support their family, both humans and pets, after their passing. Ann-Margaret Carrozza, Host of ‘The Laws of Your Money with Ann-Margaret Corrozza’ on WOR Sunday mornings, spoke with Curtis Sliwa and Larry Mendte in the Morning about making sure your pet is taken care of after your passing and why it is still good to adopt late in life.
“I know many people who are seniors who would benefit from the companionship of a pet -- lower blood pressure, and it helps deter criminals -- but they say they don’t want to adopt a pet this point because I won’t outlive the pet and it’s not fair to the pet,” Carrozza said to cohosts Sliwa and Mendte. “All 50 states now, we can put provisions in place to protect the pet when we are gone; that is a pet care trust.”
Ann-Margaret spoke about some of the services she offers on her website MyLawyerAnn.com : “Download this pet care trust, fill in the names; you can get a tax ID number for this trust and [your pet] can then be named as the beneficiary of a bank account or of a life insurance policy”
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