Ella Schutt and Dr. Henry Presnal: Pet Trusts and Lifelong care

According to a recent report by the BMO Retirement Institute, 61% of Americans own a pet. Of these pet 'owners", 87% consider pets to be a "family member", and 77% feel it's important to make arrangements for their ongoing care in the event that their pet outlives them.  But surveys show that only one-third of pet owners have actually made some kind of estate planning provision for them.