Living in Kentucky, you have horses like many of your friends and colleagues. You want to set aside money to make sure they can be housed, fed and cared for appropriately if you are incapacitated or pass away because failing to do so could put your horse at risk of being sold or going without its needs being met.
It’s normal to wonder what will happen to your pets after you can’t take care of them, and it’s good that you’re thinking about it now. You have a few different things you can do to arrange appropriate care and make sure the pet is provided for as you’d expect.
Assign a new guardian
With your pet horse or horses, you can assign new owners. So, if you pass away, do you have a friend or colleague, family member or child who would know how to take care of them? Is there someone you know with the financial stability to take over caring for your horses? If so, assigning them as caregiver could be a good choice.
Set up a pet trust
Your horses are valuable, but they also cost a lot to care for. Setting up a trust gives you the opportunity to set aside money for their care, even if you cannot be there to do it yourself. Assigning a guardian and also setting up a trust can make sure the guardian has the money for the additional expenses, too.
Include information about your horse’s care
Finally, make sure you leave notes on what care your horses should receive. You could set up long-term care solutions, like paying someone to take care of grooming needs, in advance or include requirements in the trust. By being clear about your expectations, your horses will continue to get the care they need.
These are a few things to do to provide for your horses in your estate plan. Simple documents can make a world of difference for your herd.