During this presidential election season, we’ve heard an astonishing amount about childless cat ladies. Childless cat ladies, in addition to needing to vote, must also pay attention to estate planning concerns. In this blog post, I will discuss three estate planning tips for childless cat ladies:
- Make Sure to Take Care of Your Cat. If you die, what will happen to your cat? Are adequate resources available to ensure your much-loved feline will be cared for? Our website contains helpful information about planning for pets. Will your cat need a pet trust? Or is a simpler alternative more appropriate? Although it’s scary to consider predeceasing a pet, it does happen. By facing this possibility and discussing the options with an estate planning attorney, you’ll have the peace of mind of knowing that your cat will be okay if something happens to you.
- Who Will Serve as Your Fiduciary? The stereotype of a childless cat lady is that she is unmarried and unpartnered. That may or may not be true in reality. If true, who will serve as a fiduciary, specifically a personal representative in a Will? And, if there’s a pet trust involved, who will serve as a trustee? In addition to considering friends and family members, a professional fiduciary may be a great option to consider. Professional fiduciaries are often knowledgeable, helpful, and, in the scheme of things, affordable.
- How will You Structure Your Estate Distributions? Once your cat’s needs have been adequately addressed, how will you distribute any remaining estate assets since you do not have children? One option is to distribute assets to family and friends. Another option is to choose to make charitable bequests. In this political season, a third option is to consider giving financial support to political organizations that support, rather than dismiss, childless cat ladies.
If you are a childless cat lady who needs estate planning assistance, please let us know! We’d be happy to help.
Phone: (206) 784-5305
