Americans have a love affair with their pets. In many homes, these animals have taken on the role of cherished children and are cared for in a loving and even doting manner. Arizona pet owners who are concerned about their companions' future well-being may consider the benefits of setting up trusts for their future care.
Those who have assets they wish to protect for their future heirs have several estate planning tools at their disposal. One of the most popular planning tools is the use of trusts. These require proper planning, or they may not fulfill the intended purpose. Arizona residents who are considering how to plan for their heirs will benefit from avoiding a few common mistakes.