As our lives have become increasingly intertwined with those of our pets, it's only natural that, as pet owners, we want to ensure they're taken care of in the event of our death. Unfortunately, traditional pet custody arrangements often leave much to be desired. If you appoint a friend or family member to take care of your pets, there's no guarantee that they'll actually do so – or that they'll do so in the way you want them to. Pet trusts are an excellent remedy.
A pet trust is a legal arrangement in which you (the grantor) appoint someone (the trustee) to care for your pet(s) after your death or incapacity. The trustee will use the assets in the trust (which can include cash, property, or other assets) to provide for the care of your pets according
A pet trust is a new way to ensure that your pets will be taken care of exactly as you wish in the event of your death. By creating a pet trust, you can appoint someone you trust to take care of your beloved furry (or scaly) friends and ensure they're never left at a shelter or put down if something happens to you.
A pet trust can be created as part of your overall estate plan or set up as a standalone trust. Either way, it's essential to choose someone you trust as the trustee, as they will be responsible for carrying out your wishes. You'll also need to decide how to fund the trust – typically, this is accomplished by setting aside a certain amount of money or assets specifically for caring for your pets.
Once the trust is established, you can specify exactly how you want your pet's care to be managed. For example, you can set up a schedule for feeding, walking, and vet visits, and you can even include instructions for what should happen if you have more than one pet.
If you're thinking about setting up a pet trust, it's important to consult with an experienced estate planning attorney who can help you navigate the process. With the help of a professional, you can be confident that your pets will be taken care of exactly as you wish – even if you're no longer there to take care of them yourself.
One of the primary reasons people create pet trusts is to ensure their beloved animals will be taken care of for their entire life span, in case something happens to them. This could be due to old age, illness, or an accident.
For pet owners, a pet trust can give you peace of mind knowing that your furry family members will be well cared for long after you're gone.
Creating a pet trust is similar to creating any other type of legal document. You will need to specify the terms of the trust and appoint a trustee (pet caregiver).
You will also need to fund the trust, which can be done by setting aside a certain amount of money or assets, specifically for the care of your pets.
It's important to consult with an experienced estate planning attorney before creating a pet trust. With the help of a law firm, you can be confident that your furry friends will be taken care of exactly as you wish.
There are many benefits to creating a pet trust, including:
Pets should have the right to an inheritance, too
A pet trust can be created as part of your overall estate plan, or it can be set up as a standalone trust. Either way, it's important to choose someone you trust to be the trustee, as they will be responsible for carrying out your wishes. You'll also need to decide how the trust should be funded – typically, this is done by setting aside a certain amount of money or assets specifically for the care of your pets.
The question of how much money to leave in a pet trust is an important one. If you are considering leaving a significant amount of money in your will to care and maintain your pets, it's essential to know what kind of expenses will be involved.
The cost depends on where you live but typically includes food, routine medical care, emergency medical care, boarding or kenneling, and pet sitting.
In addition, you will need to consider the age of your pets and whether they have any special needs that will require additional care.
For example, a pet trust for an older dog with arthritis might need to include funds for regular vet visits, medication, and food.
A pet trust for a cat with diabetes would need to include funds for insulin and regular check-ups.
As you can see, the cost of pet care can vary widely depending on the type of pet and its individual needs.
By planning, you can rest assured that your pets will be provided for and are in good hands.
Contact us today for help setting up your pet trust.