Joan set a great example for all pet lovers - make sure your pets are cared for in the event something happens to you. This doesn't mean just in the event of your death. Your plan for your pets needs to include provisions in the event you should become disabled and unable to care for your pets.
"All My Children Wear Fur Coats - How to Leave a Legacy for Your Pet" by Peggy R. Hoyt outlines the many different ways you can include your pets as part of your estate plan. Planning for your pets doesn't have to mean a comprehensive pet trust but you have to be specific about who should be responsible for your pets, how you want them cared for and the resources necessary to ensure their care is consistent with your desires.
If I want someone to take on the responsibility for my 3 horses, 7 dogs and 2 cats, it would be unfair if I didn't provide the resources necessary to make this possible. In this case, a pet trust is one of the best ways to ensure there are sufficient funds and professional oversight for the investment and distribution of the money for the benefit of the pets. You'll also want to choose your remainder beneficiaries carefully - you don't want to unintentionally create a situation where family members or other disgruntled heirs try and change the terms of your trust.
You can read more about Joan's planning here...
What Joan Rivers Just Taught Pet Lovers About Estate Planning - DailyFinance
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