Financial Costs
Let’s take a look at what it costs for your pet’s plan, and how to legally set aside funds for their immediate needs when the time comes
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When you are ready to start, there will be a non-refundable enrollment fee of $525 to create your pet’s care plan together. Each additional pet added will be $100 per pet.
The enrollment fee will be the only CLP costs you will have up front. All remaining payments take place after your passing.
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The care plan covers all veterinary and medical costs for the remainder of your pet’s lifetime. The minimum fee is $12,500 per pet and a recommended amount ranges from $12,500 to $20,000 per pet based on yearly increases in medical care.
Note: any remaining funds of this specific account after your pet’s eventual passing will be donated in full to the non-profit rescue group we worked with during your pet’s initial adoption process.
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There is a $12,000 lifetime management fee to be your pet’s ambassador. This is for unlimited coverage starting from day one for the rest of your pet’s life. It starts the day of your pet’s arrival, and covers the foster and adoption process, monitoring & coordination with the adoptive family & vets, and reimbursement or direct payment of medical bills for their lifetime.
How did we come up with this number?
We calculated this by selecting an average of 10 years to plan for being ambassadors for your pet. You never know if you will pass while your pet is young or old. Dogs can live up until around 15 , and cats can live up to around 20 years of age.
$1000 goes to the rescue organization we are partnering with, and $1000 goes to CLP upon intake. This covers the full foster and adoption process according to our protocols. We essentially drop everything to focus solely on your incoming pet to get them settled, cared for and adopted out right away.
From this point on, the adoptive family will then work directly with us for advice, veterinary consults, and financial reimbursement for all medical bills for the rest of your pet’s life.
$10,000 is now left to cover the 10 year estimate of managing your pet’s future. This equals $83.33 dollars a month from then on. This is for unlimited calls and meetings about your pet when needed at any time.
Sometimes it can be quiet for a while, and then other times pets can begin needing vet visits more often as they age. Accidents requiring emergency care can happen (although rare), and acute medical issues pertaining to a pet’s age can yield more frequent visits to the pet hospital ( e.g. pancreatitis, kidney issues, seizures, cancer etc.).
We remain on-call for your pet’s needs with no cap on the amount of time needed for their care as every pet’s health journey is unique.
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There is a $3500 cost for all legal, bank and financial management fees for the lifetime of your pet’s designated account.
The legalities of your designated funds
In the past, we have received funds a variety of ways, from brokerage and investment accounts to real estate sales after clients’ wills were settled. We have learned over the years that time is of the essence however when it comes to immediately supporting your pet, and thus we structure incoming, designated funds to be set up the following way:
With your lawyer, set up a separate bank account for your pet’s funds, and make Companion Legacy Partners the beneficiary to be payable upon death (POD). We will work with you during enrollment to collect your pertinent contacts and legal information so that things move swiftly to intake your pet when needed. Often times, there is an immediate vet visit to make sure they are holding up and to address any underlying health issues before adoption. Your pet’s health and comfort is of the utmost importance, and our aim is to make sure that everything is thoroughly taken care of while we work to settle your pet into their new home.
Many ask about setting up pet trusts, and while they are certainly faster than going through probate, even those can take up to 3-6 months while notifications go out. We simply cannot receive your pet and start the process without coverage, and we want to avoid having them wait in limbo and adding to their stress.
These legalities however do not apply to our hospice clients or others who can no longer care for their pet(s). At any point, clients can opt to move forward with enrollment and activation at the same time while paying in full up front.
Securing Your Pet’s Future & Your Investment
We know that there is a lot of trust going into this arrangement, and we value this relationship immensely. Here are a few things to keep in mind:
Feel free to designate a contact of yours that can request an annual, financial statement of your pet’s account. We are happy to share it.
What happens to your pet’s account if the founder, Juliet Boyd, gets hit by a bus crossing the street tomorrow? Answer - a two-tiered, back-up plan is in place with individuals who stay up to date on all business operations and are ready to step in.
What if my pet died and I had no additional pets that needed coverage, and I forgot to notify CLP before my passing? Answer - all funds will be returned to your estate in full if we receive them.
