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  1. #1
    Join Date
    Nov. 7, 2002
    Location
    Central FL
    Posts
    5,241

    Default Do you have a will? Does it include provisions for your horse?

    I'm at that age (past it, for all you attorneys and responsible people) where I'm working on details of my will.

    What provisions have you folks made for your horse(s)?

    Thanks.
    *=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=
    Dressage becomes art when it is a joy for the horse. -KBH

    Mighty Thoroughbred Clique Now on Facebook ... ... show the loff



  2. #2
    Join Date
    Jul. 12, 2009
    Location
    Heart of the Midwest
    Posts
    586

    Default

    Yes, with a set amount of money available for support of each horse. I haven't figured out a way to ensure that they don't just take the horses and the money, and then ditch the horses. But, I'm counting on people I know at the time and estate executor to do the right thing. As time progresses and we age together, I may instead direct that they be euthanized so they never risk ending up in a bad situation.
    pace, path, balance, impulsion and ??

    Don't panic! Ralph Leroy Hill


    1 members found this post helpful.

  3. #3
    Join Date
    Jan. 4, 2007
    Location
    TX
    Posts
    40,097

    Default

    Yes and some of my heirs have horses, we have swapped horses, they know my horses, I know theirs and we both know our respective wishes about what to do with them.
    Also any other animals have provisions for them.

    I think that any one, that owns or cares for any other, needs to have such provisions.
    Do it right, with a proper will that will see anything alive can kept be cared for while the will is in probation, don't has to wait for funds after closing to do so.


    1 members found this post helpful.

  4. #4
    Join Date
    Jul. 29, 2004
    Location
    Colorado
    Posts
    1,461

    Default

    Yes and yes. There is an executor who 'dispenses' trust funds to the caretakers with a 'not to exceed' amount bundled along with I trust the caretakers.


    1 members found this post helpful.

  5. #5
    Join Date
    Mar. 23, 2006
    Location
    New York State
    Posts
    1,419

    Default

    I do. All my animals have pet provisions.

    It's important when making a will to choose an executor or executors that you know will be reliable. I've been an executor twice and it's not an easy job. It's a duty...and a serious one. I do know of one dear lady that had provisions in her will for her horses and her family members did not follow her wishes. It's too late once the horses are dispersed and gone.

    If you don't have a family member or friend that would be a good executor and follow your wishes to the letter as dictated in your estate planning documents, then get an outside party, such as a bank to do it. I'm sure your attorney can advise you on other options.

    It's a good thing you are doing.


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  6. #6
    Join Date
    Nov. 15, 2006
    Location
    Lexington, Kentucky
    Posts
    3,281

    Default

    Yes. Money set aside for care, instructions for my daughters (who would end up with horses and dogs). I trust them to do what is right, they will not rehome horses anywhere else, and would put them down if need be.
    We're spending our money on horses and bourbon. The rest we're just wasting.
    www.dleestudio.com


    1 members found this post helpful.

  7. #7
    Join Date
    Jul. 31, 2007
    Posts
    14,929

    Default

    Quote Originally Posted by DLee View Post
    Yes. Money set aside for care, instructions for my daughters (who would end up with horses and dogs). I trust them to do what is right, they will not rehome horses anywhere else, and would put them down if need be.
    OP, learn the difference between a Will and a Trust. DLee trusts her peeps do spend the money wisely to support the animals willed to them. But a Will makes those animals property-- there's no legal obligation for their new owner to do anything in particular. A trust is the legal instrument that gets the other thing done-- assigns a person or people to do what you'd like done for your animal will the money you leave for the purpose.
    The armchair saddler
    Politically Pro-Cat


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  8. #8
    Join Date
    Nov. 7, 2002
    Location
    Central FL
    Posts
    5,241

    Default

    Thanks everyone for your information.
    *=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=
    Dressage becomes art when it is a joy for the horse. -KBH

    Mighty Thoroughbred Clique Now on Facebook ... ... show the loff



  9. #9
    Join Date
    Sep. 24, 2008
    Posts
    1,668

    Default

    If anything were to happen to myself and my SO, I have made arrangements with a friend that she will get the horse, all the tack etc, and a set amount of money and she will do with the horse what she sees fit. This is written into our will, so there are no questions.

    NJR
    Your beliefs don't make you a better person, your behaviour does.


    1 members found this post helpful.

  10. #10
    Join Date
    Mar. 9, 2006
    Posts
    1,830

    Default

    I'm handling the situation via a trust and some trustees. (The following explanation is general and incomplete, because the world doesn't need to know everything about my finances.) Basically, when I shuffle off this mortal coil the animals and some money go into a trust. The executor of my estate becomes the trustee. The animals go off to be boarded at an appropriate place for the species. Funds from the trust go to paying for their care. After the animals expire anything remaining in the trust gets dispersed to various designees.

    The executor likes animals but is far from an expert in caring for them. Therefore, the will designates another person to choose where the animals will live and monitor their care. An appropriate home could be a friend's house in the case of house pets and a lease for a young and healthy horse. The care person will submit any bills to the executor for payment, and the executor will make sure that the bills seem reasonable.

    Funding the animal trust was an interesting exercise. Some options we explored were taking out a life insurance policy on me, directing my 401k into the trust, and directing the assets from the sale of my house into it. Convincing my non-horsey lawyer what I wanted to do was also interesting. He kept trying to persuade me to donate the horses to charity. (Uh, trust me squire, that would be no kindness to either the charity or the horses. )


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