According to the American Society for the Prevention of Cruelty to Animals, there are an estimated 75 million dogs and 85 million cats living in U.S. households. To many pet owners, a dog or cat is more than just a pet and is viewed as a member of one's family. It makes sense, therefore, that some pet owners want to take steps to ensure for a pet's future safety and wellbeing.
Last year, the Bureau of Labor Statistics announced a landmark shift in the societal makeup of the U.S. when it announced that single adults in the U.S. now outnumber those that are married. To put things into perspective of just how big of change this is, in 1950 only about 22 percent of U.S. adults reported being single. Today, that percentage has soared to 50.2 percent as a growing number of U.S. adults are delaying or foregoing marriage altogether.
Many Massachusetts residents would likely consider a will to be the most important estate planning document. In many cases, a last will and testament serves as the cornerstone of a comprehensive estate plan and provides directives for the distribution of an individual's property, assets and personal belongings.
Most people focus heavily on their retirement accounts, investment funds, life insurance policies and real property when planning their estate, paying little attention to personal property such as family heirlooms, jewelry, art and collections.
When it comes to your estate plan, it’s important to make sure that your spouse is up to speed. That’s because, as this article from MainStreet points out, your spouse can help make sure that your wishes are met when you die, and vice versa.