Americans spent an estimated 47.7 billion dollars on their pets in 2010. This is a clear example of how much we value our pets, similar to the way we value our own children. Like our children, we want to leave behind arrangements and finances to ensure that our pets can maintain a happy, healthy life, even if they outlive us.
Luckily, Massachusetts has adopted the new pet trust law.
This allows owners to write a trust agreement under which their pet is the beneficiary of trust funds. Starting April 7, 2011, your pets can finally feel safe knowing that when mom and dad are gone they will be able to maintain their happy loving lives. MSPCA Website
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