Trust Funds for Pets a Growing Trend in Orange County
Newport Beach, CA, August 05, 2012 --(PR.com)-- Pet trusts, once only reserved for the rich and famous, are growing in popularity with Orange County residents wanting to make sure their pets are cared for if the unexpected happens.
When Leona Helmsley left $12 million to her dog, Trouble, upon her death in 2007, many people were shocked at the lavish funds bequeathed to her furry friend.
Yet for many Orange County residents, pet trusts are now viewed as a practical way to ensure their pets are properly cared for if the death or incapacity of the owner occurs. Through a pet trust, the owner can allocate funds for the continuing care of their animal, as well as reimburse the chosen caretaker and/or trustee for their time.
“Orange County residents are leaving trusts to their pets for the same reason they leave trusts to their children,” says Darlynn Morgan, a local estate planning attorney from Newport Beach “They don’t want their animals to go without proper care, or worse, get put to sleep if something unexpectedly happens them,”“ she adds.
According to Morgan, the average amount local residents are leaving in trust for their pets is between $15,000- $25,000. She says pet owners can figure out the necessary amount to place in trust for their animals by multiplying average yearly expenses by the life expectancy of the animal.
Morgan also encourages owners take into account inflation, unexpected medical expenses and possible boarding costs should the caregiver go on vacation or travel while caring for your pet. She further recommends talking with potential caregivers or trustees beforehand to ensure they actually want the responsibility of caring for your animals if something happens to you.
“Taking care of an animal is a big job that can be costly and time consuming. The pet trust will cover many financial aspects of your pet’s care, but you still need to make sure your chosen caregiver is willing to give your pet the time commitment that he or she deserves,” warns Morgan.
For more information about the growing popularity of pet trusts in Orange County and how to financially care for your pets after death, please visit the Morgan Law Group website at http://www.morganlawgroup.com/ or call (949) 260-1400.
About Darlynn Morgan – California Probate Attorney
OC Trusts Lawyer Darlynn Morgan and Morgan Law Group is a Southern California Probate Attorney / Estate Planning Lawyer / Wills & Living Trusts Law Firm Serving: Los Angeles, Orange County, Riverside, San Bernardino, San Diego & all of Southern California
Probate law firm Morgan Law Group, serves all cities in Orange County, including: Aliso Viejo, Anaheim, Balboa Island, Brea, Buena Park, Capistrano Beach, Corona Del Mar, Costa Mesa, Coto de Caza, Cypress, Dana Point, as well as estate planning in Foothill Ranch, Fountain Valley, Fullerton, Garden Grove, Huntington Beach, Irvine, La Habra, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Forest, and estate planning and probate in Los Alamitos, Mission Viejo, Newport Beach, and estate planning and probate law firm information in Orange, OC, Placentia, Rancho San Margarita, Rossmoor, San Clemente, Santa Ana, Seal Beach, Sunset Beach, Tustin, Villa Park, Westminster, and Yorba Linda.
Orange County California probate law firm Morgan Law Group, serves all counties in southern California. For more information about Estate Planning Lawyer Darlynn Morgan, call: 949.260.1400 or visit www.MorganLawGroup.com
When Leona Helmsley left $12 million to her dog, Trouble, upon her death in 2007, many people were shocked at the lavish funds bequeathed to her furry friend.
Yet for many Orange County residents, pet trusts are now viewed as a practical way to ensure their pets are properly cared for if the death or incapacity of the owner occurs. Through a pet trust, the owner can allocate funds for the continuing care of their animal, as well as reimburse the chosen caretaker and/or trustee for their time.
“Orange County residents are leaving trusts to their pets for the same reason they leave trusts to their children,” says Darlynn Morgan, a local estate planning attorney from Newport Beach “They don’t want their animals to go without proper care, or worse, get put to sleep if something unexpectedly happens them,”“ she adds.
According to Morgan, the average amount local residents are leaving in trust for their pets is between $15,000- $25,000. She says pet owners can figure out the necessary amount to place in trust for their animals by multiplying average yearly expenses by the life expectancy of the animal.
Morgan also encourages owners take into account inflation, unexpected medical expenses and possible boarding costs should the caregiver go on vacation or travel while caring for your pet. She further recommends talking with potential caregivers or trustees beforehand to ensure they actually want the responsibility of caring for your animals if something happens to you.
“Taking care of an animal is a big job that can be costly and time consuming. The pet trust will cover many financial aspects of your pet’s care, but you still need to make sure your chosen caregiver is willing to give your pet the time commitment that he or she deserves,” warns Morgan.
For more information about the growing popularity of pet trusts in Orange County and how to financially care for your pets after death, please visit the Morgan Law Group website at http://www.morganlawgroup.com/ or call (949) 260-1400.
About Darlynn Morgan – California Probate Attorney
OC Trusts Lawyer Darlynn Morgan and Morgan Law Group is a Southern California Probate Attorney / Estate Planning Lawyer / Wills & Living Trusts Law Firm Serving: Los Angeles, Orange County, Riverside, San Bernardino, San Diego & all of Southern California
Probate law firm Morgan Law Group, serves all cities in Orange County, including: Aliso Viejo, Anaheim, Balboa Island, Brea, Buena Park, Capistrano Beach, Corona Del Mar, Costa Mesa, Coto de Caza, Cypress, Dana Point, as well as estate planning in Foothill Ranch, Fountain Valley, Fullerton, Garden Grove, Huntington Beach, Irvine, La Habra, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Forest, and estate planning and probate in Los Alamitos, Mission Viejo, Newport Beach, and estate planning and probate law firm information in Orange, OC, Placentia, Rancho San Margarita, Rossmoor, San Clemente, Santa Ana, Seal Beach, Sunset Beach, Tustin, Villa Park, Westminster, and Yorba Linda.
Orange County California probate law firm Morgan Law Group, serves all counties in southern California. For more information about Estate Planning Lawyer Darlynn Morgan, call: 949.260.1400 or visit www.MorganLawGroup.com
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Morgan Law Group
Becky Billingsley
949.260.1400
www.MorganLawGroup.com
Becky Billingsley
949.260.1400
www.MorganLawGroup.com
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