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Leaving Money To Your Pet When You Pass

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ST. LOUIS, MO (KPLR) - We've all seen and heard stories of wealthy people who leave their fortune to their dog or cat.  It's no joke! Travis Freeman is a certified financial planner and founder of four seasons financial education.

He says that incorporating pets into a legacy plan doesn`t mean you are leaving a bucket of money to Fido.  It may be as simple as appointing a particular person to watch over your pets and specifying which veterinarian should care for them.

Not only should pet owners plan for the event of a tragedy, they should also consider what to do with pets if they were incapacitated or had to enter a nursing home facility.

Although not as flexible as a Pet Trust, pet owners can also include their pet family members into their will and make specific wishes known, such as the amount of money to be used for your pet`s medications.

Your pets can even be included in your durable power of attorney documents. This document can appoint another person to care for your pet in very specific ways, such the type of care they need, the types of toys they can`t live without, or the brand of food they are used to.