Are you a pet owner? If so, you may view your pet as a member of the family who you love, care for, and protect. Your pet may look up to you for everything and you may wonder how you can help make sure that your pet is still taken care of even if your pet outlives you. Fortunately, you can work with an estate planning attorney to establish a pet trust to do just that.
A pet trust is created in the same way as a traditional trust. You select a caregiver for your pet and a trustee to manage and distribute the assets in the trust to your pet’s caregiver for the benefit of your pet. This can allow you to help ensure that your pet’s caregiver is not financially burdened or unable to afford the proper care for your pet.
You can also include provisions in the trust regarding veterinary care, daily activities, grooming, boarding, and even guidance regarding end of life care and specifics on burial or cremation of the pet after death. Your estate planning attorney can help make sure that your trust is formed in accordance with all applicable laws and can also help you decide what to do with any remaining assets in the trust should your pet pass away before the trust is emptied. Once you have created your trust, be sure to give the selected caregiver for your pet and trustee for the pet trust copies of the relevant documents so that, should tragedy strike, everyone will know how to implement your plan to keep your pet safe.
For assistance in establishing a pet trust as part of your estate plan, please reach out to our office to schedule an appointment.