Trusts for Pets

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A large number of pets are abandoned at shelters when their senior owners die or go to a nursing home. This article discusses a new legal consideration.
Questions:
1. How many Americans over 55 have wills?
2. Why is there negative association with putting pets in the will?
3. How much does it cost to set up a trust for your pet?
4. Why is this important?

Source:
Pinsker, B. (2016). Your Money: How to protect your prized pet with a trust. Reuters, Dec. 13 (Retrievable online at http://www.reuters.com/article/us-money-retirement-pettrust-idUSKBN1422AV)