Planning for your Pets

A mixed race senior woman holding her puppy outdoors

Over the last few decades, we have seen a significant change in how pets are perceived, even in the law. Years ago, pets were seen as property without much value or protection under the law, however, much of society has found the true value in having a furry family member (or two or three!). This has led to some significant changes in the laws.

What Happens to My Pets When I Die?

A pet trust is a legal arrangement that provides for the care of a pet after the owner's death or incapacity. The trust is created by the pet owner, who names a trustee to be responsible for the pet's care. The trustee will use the money or property in the trust to pay for the pet's food, shelter, veterinary care, and other expenses.

Pet trusts are becoming increasingly popular as more and more people consider their pets to be members of the family. If you have a pet, you should consider creating a pet trust to ensure that your pet will be well cared for after you are gone.

The Benefits of Having a Pet Trust

There are several benefits to creating a pet trust. First, it ensures that your pet will be well cared for after you are gone. The trustee will be responsible for following your instructions for the pet's care and will have the resources to do so. Second, a pet trust can save your family money. If you do not have a pet trust, your family may have to pay for the pet's care out of their own pockets. This can be expensive, especially if the pet has any health problems. Third, a pet trust can give you peace of mind knowing that your pet will be taken care of after you are gone.

If you are considering creating a pet trust, you should talk to an estate planning attorney. An attorney can help you understand the benefits of pet trusts and can help you create a trust that meets your needs and the needs of your pet.

Things to Consider in Creating a Pet Trust

Here are some things to keep in mind when creating a pet trust:

  • Choose a trustee carefully. The trustee will be responsible for the care of your pet, so it is important to choose someone you trust. The trustee should be someone who is willing and able to care for your pet, and who understands your wishes for the pet's care.
  • Provide clear instructions for the pet's care. In the pet trust, you should provide clear instructions for the pet's care. This includes things like the type of food and care the pet needs, the frequency of veterinary visits, and any special instructions you have for the pet's care.
  • Provide funding for the pet's care. The pet trust should provide funding for the pet's care. This includes money for food, shelter, veterinary care, and other expenses. You can fund the pet trust with money, property, or other assets.
  • Update the pet trust regularly. You should update the pet trust regularly to make sure that it reflects your current wishes for the pet's care. This is especially important if you get a new pet, or if your circumstances change.

Creating a pet trust is a thoughtful way to ensure that your pet will be well cared for after you are gone. If you have a pet, you should consider creating a pet trust to give your pet the best possible life.

Categories: Estate Planning