• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Wilcox Attorneys, PA

Wilcox Attorneys, PA an Arkansas Estate Planning & Trust Information Center

Northwest Arkansas Estate Planning Attorneys (479) 443-0062

Client Vault
  • Home
  • Our Firm
    • Our Firm
    • About the American Academy
    • Advantages of Working With Our Firm
    • Attorney and Staff Profiles
    • News & Events
    • Speaker Connection
  • services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Incapacity Planning
    • Legacy Planning
    • Pet Planning
    • Secure Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Webinars
  • Practice Areas
  • Resources
    • DocuBank
    • Elder Law Reports
    • Estate Planning Resources
      • Estate Planning Articles
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Frequently Asked Questions
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • Incapacity Planning
      • Legacy Wealth Planning
      • Medicaid Planning
      • Pet Planning
      • Probate
      • Trust Administration & Probate
    • Newsletters
    • Pre Consultation Form
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Contact Us
  • Blog

Do I Need to Have Pet Insurance?

March 26, 2015 by Deb Sexton Leave a Comment

pet insuranceYou include life insurance in your estate planning, so why not include pet insurance in your pet plan?  There are many ways create your pet plan, including trusts or pet care agreements.  In addition to those tools, you can also incorporate pet insurance into your plan.  Pet insurance can be a very practical and useful way to plan for your pet’s future care.  Just be sure to consider how pet insurance may affect other elements of your estate plan.

What is pet insurance?

Pet insurance was created to defray the cost of veterinary care.  It is much like health insurance for us.  Veterinary care expenses have begun to soar over the years, and many pet owners are either unwilling or unable to pay such high prices for pet care.  For a monthly premium, anywhere from $10 to $90 depending on the type of policy, a pet insurer will pay portions of your veterinary bills.  There are various factors that affect the amount of the premium, including your pet’s breed and age.  The main goal of pet insurance is to prevent pet owner’s from having to make the decision to euthanize a beloved pet because they cannot afford the veterinary costs.

What type of pet insurance do I need?

There are different types of pet insurance, just as there are different types of life and health insurance.  Likewise, each different type has its own advantages and disadvantages.  Some types are more affordable than others, so if you are considering pet insurance, look at your budget to determine what you can afford.

Another important step in selecting pet insurance is discussing potential health problems with your veterinarian.  Some breeds of animals are prone to develop certain types of medical or health problems.  Understanding what you can expect in your pet’s future will allow you to determine which kind of policy is best suited for your pet, and affordable, as well.

What happens to pet insurance after my death?

The purpose of a pet plan is to make sure your pet will be cared and provided for after your death. One  common way to do this is to create a pet trust, where you set aside assets sufficient to pay for your pet’s care, and all related expenses.  If you have pet insurance in place, then your trust can be directed to maintain a sufficient level of insurance coverage for your pet, as well.  You may also want to give your trustee the authority to find better coverage if your pet’s needs change at any point.

What should I do?

The right pet insurance plan should be easily incorporated into your existing estate plan.  It is important to always consider the big picture.  An experienced estate planning attorney can assist you in determining the type of insurance you need and how it will fit into your estate plan.

If you have questions regarding pet insurance, or any other pet estate planning needs, please contact Wilcox Attorneys, PA online or by calling us at (479) 443-0062.

  • Author
  • Recent Posts
Deb Sexton
Latest posts by Deb Sexton (see all)
  • Estate Planning is Essential Whether You Are Married or Not - April 25, 2018
  • Income Tax Basis in Estate Planning – Part 2 - April 23, 2018
  • The Downsizing Generation: How to Handle a Surplus of Stuff When a Loved One Ages - April 18, 2018

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Wilcox Attorneys, PA

DOWNLOAD OUR FREE ESTATE PLANNING WORKSHEET

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Subscribe to Our Blog

Subscribe to our blog for all the latest estate planning news and updates!

Office Address

Fayetteville
2766 Millennium Drive
Fayetteville, AR 72703
Phone: (479) 443-0062

Office Address

Prairie Grove
1100 Division Street, Suite 4
Prairie Grove, AR 72753
Phone: (479) 846-6026

( By Appointment Only )

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM

Map

map for office
  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.