Pet Trusts: Dos & Don’ts

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Episode Summary:

Millions of Americans own pets. Cats, dogs, birds, rodents, reptiles...the list goes on and on. It’s a reality in the U.S. that many people consider their pets to be members of the family. Unfortunately, these same people, including some of your clients, are often uneducated as to what happens to their pets if they survive their owners. That’s where pet trusts come into play and provide a unique opportunity for you to add value and deepen relationships with clients. Learn how to communicate the importance of pet trusts to your clients and easily add this service offering to your practice.

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Michael Fitzgerald, JD

About The Guest:

Michael Fitzgerald, the founder of Fitzgerald Law Office LLC, is an Attorney and Chartered Financial Consultant® with over 25 years of experience in the areas of estate and financial planning.

To learn more about Michael and his firm, visit his website.

Episode Details

Episode Key Points:

(00:25) - What is the market for pet trusts?

(02:05) - What is the legal background behind a pet trust?

(03:49) - How do you plan for a pet? What is different?

(05:27) - What type of documents do you use?

(10:30) - How do I talk to my clients about this?

(17:54) - How do I market pet trusts?

Episode Takeaways:

Dive deep into pet trusts with this WealthCounsel Quarterly magazine article, “Planning for the Four-Legged Member of a Family," where you’ll discover how to make pet trusts a part of your client questionnaire, start drafting pet trusts, educate your clients, and offer them the option of a pet trust.

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