From the June/July 1997 Triangle Ferret Lovers club newsletter...
 
+++++++++++++++
 
Planning For Your Furry Loved Ones
by Jeff Marsocci, TriFL General Counsel
 
Nothing is certain in life except death and taxes.  What happens to your
loved ones, fuzzy and non-fuzzy alike, once you pass on is no exception.
Everyone knows they will someday join the hereafter and should write down
plans for their worldly possessions.
 
Drafting certain documents can eliminate some uncertainty for your family
and put your mind at rest.  Some people recently told me they were worried
about the fate of their ferrets if something happened to them before their
pets passed on.  Under North Carolina law if there are no named guardians
for minor children in a Will or other document, then the court will appoint
a guardian based on " the best interests of the child." Unfortunately, there
are no "best interests of the Ferret" rules, and courts treat pets as
property.  In the case of children and pets, most people want to choose a
guardian for their minor children and an owner for their ferrets based on
what they feel is best, and not based on what some court feels.  Putting
guardian provisions into a properly drafted document lends great weight to
your decisions regarding children, and even more weight regarding your pets.
 
A Last Will and Testament is the most common and versatile of these
documents.  A Will typically contains guardian and trustee provisions for
minor children, binding burial provisions, and property bequests.  Ferrets
are only property like your TV and cookware.  You may want to name several
alternate people to take charge of your ferrets in case someone is unable or
unwilling to care for them.
 
A Living Trust is another vehicle for granting possession of your pets.
Living Trust provisions mirror most provisions in a Last Will and Testament,
but instead of property filtering through the probate court they pass
privately outside of court.  The main drawbacks of a Living Trust are it is
more expensive to set up, the Living Trust should be amended whenever a
possession with a title to it is bought or sold, and a back-up Will is
necessary to appoint guardians for minor children and record burial wishes.
However, attacking a Living Trust is statistically much harder, Living
Trusts are not public documents after you pass on, and distributing assets
is much quicker.
 
Some people have raised concerns about using Wills or Living Trusts because
of the delay in getting their ferrets to the proper owners if anything
should happen.  I have even heard horror stories of pets going between
friends and relatives for weeks until the late owner's Will was found.  The
simplest way to avoid these potential problems is to make multiple copies of
your Will or Living Trust and give them to reliable friends and family
members.  If anything happens, they can immediately make sure your children,
pets and possessions are safe while the legal paperwork is completed.  It
may also be good to leave handwritten instructions regarding your children
and ferrets so your wishes can be carried out quickly, although these notes
are not as binding as a Will or Living Trust.
 
++++++++++++++
 
Shari Gunter
Newsletter Editor
Triangle Ferret Lovers club, North Carolina
http://www.trifl.org
[Posted in FML issue 2180]