pet trust

Pet Trusts: Ensuring Your Pets Are Taken Care Of

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For many, pets are more than just animals – they’re cherished family members. Yet, unlike other family members, pets can’t voice their needs or advocate for their care when you’re no longer around. Pet trusts have emerged as a solution to ensure that our furry, feathered, or scaled friends receive the care they deserve, even when we’re not there to provide it.

pet trust

1. Understanding Pet Trusts: A pet trust is a legal instrument that provides for the care and maintenance of one or more pets in the event of an owner’s disability or death. Funds are set aside for their care, and a designated trustee ensures these funds are used as intended.

2. Determining Costs: Begin by estimating the lifetime costs for your pet. Consider routine expenses like food, vet check-ups, grooming, and emergency medical care. Don’t forget to factor in their life expectancy.

3. Designating Caretakers: Choose someone who will love and care for your pet as you would. This may be a family member, friend, or dedicated organization. It’s wise to have a primary caregiver and a backup. Always discuss this responsibility with potential caregivers before naming them in the trust.

4. Specific Care Instructions: Detail out your pet’s routines, dietary preferences, health issues, and other preferences to ensure a consistent lifestyle. Include details about their favorite toys, activities, and any other nuances specific to their care.

5. Remainder Beneficiary: Decide what will happen to any funds left after your pet’s passing. Most people choose to donate the remainder to a charity, often animal-related, but you can also distribute it among living family members or friends.

6. Periodic Review: Like all estate planning tools, periodically review and update your pet trust. This is especially important if you acquire new pets or if your chosen caretaker becomes unable to fulfill the role.

7. Benefits Over a Will: While you can allocate funds for pet care in a will, a trust provides more detailed instructions and ensures funds are only used for the pet’s care. Moreover, while a will only comes into effect upon death, a trust can also cover situations where the owner is alive but incapacitated.

Our pets offer us unconditional love, joy, and companionship. A pet trust allows us to return that affection by ensuring they remain in caring hands and comfortable surroundings no matter what life brings. Investing in a well-drafted pet trust is an investment in their well-being and your peace of mind. Contact us to get started.

Brandon McGee
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