Beneficiary designations are an important part of your estate plan and must be monitored regularly. Designations on retirement accounts, investments, and life insurance are the most common forms that people will encounter. But, there are many assets that can be transferred via beneficiary designation. Multiple beneficiaries can be named with a designated percentage to each. Charitable donations can be made using this method and may result in tax incentives. You need to fully understand the process to be sure distribution to a beneficiary fulfills your intent and protects the gift from being squandered or collected by a creditor of the beneficiary.
When a pet owner becomes a victim of domestic violence, the effects can be devastating for everyone in the household — pets included. Battered women who seek help from an advocacy agency or women’s shelter can find ways to transition into a safer environment, but it’s not always easy for those victims to care for their pets in the midst of such trying circumstances.
Many women’s shelters are unable to accommodate pets, which can add another layer of distress to an already challenging situation. Anxiety about a pet can multiply the grief experienced by abused women who leave their spouses.
As an attorney with a focus on Estate Planning I have assisted several families with creating a plan for children with developmental disabilities, including Autism. I am also a strong advocate for pets. This article supports the bond between children and their pets. If you are considering a pet for your family, please conduct the proper research to find the right pet for your situation. Many local shelters have staff that can help with the choice. You could save a life and enhance the life of your child at the same time.
This article, written by Carolyn Gregoire and published in the Huffington Post, explores the benefits a pet can bring to your child’s development.
Colleen J. Watters is a dedicated estate planning and probate lawyer. She also specializes in special needs and pet care planning. A graduate of Lincoln School of Law, a member of the California State Bar since 2008, a native of Sacramento, an active volunteer with the American River Parkway Foundation and the Placer SPCA.