In estate planning, determining how much to set aside for pet care depends on the animal. Pet owners must factor in the animal’s health and its average lifespan. The owner will also have to appoint the caregiver, with whom the pet will live; the money person, who will manage and disburse the funds set aside for the pet’s care; and the “watchdog,” who will make sure the caregiver is doing right by the pet and carrying out the deceased’s wishes. Planning only for the owner’s death is a pitfall to avoid. Pet owners should have care instructions in the event of an accident for good measure. Another trap to avoid is only budgeting for the pet’s early years. Expenses can increase dramatically as the pet gets older.
The IRS still has the authority to impose fines on nonfilers.
Insurers have may have defenses. One problem: The bad guys know about the defenses.
The law affects access to policy loans for insureds who are getting LTC-related accelerated death benefits.
Sponsored by LPL Financial
Get an in-depth look at how you can lock in future value through proven tactics that will grow your bottom line.
Sponsored by Smarsh
Many companies today are making the move to Office 365. Find out whether it’s the right move for your firm.
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.