What is a Pet Trust?

You consider your sweet puppy a part of the family, but in the eyes of the law, pets are simply considered personal property. For that reason you cannot transfer money into your pet's name. Many people mention leaving money to their pets in a will, but that may not be enforced during the probate process. To ensure your pet is adequately cared for after your death, a pet trust may be your best solution. 

A pet trust is a legally enforceable document that lays out how you want your pets cared for and by whom.  

Benefits of a Pet Trust

With a pet trust, you first designate a trustee who has a legal duty to carry out your care and maintenance instructions for your pet(s).

Some benefits of a pet trust include:

• specific care instructions including the brand of food required, prescription medications needed, and how often Fido gets to take a walk each day.
• checking up on the pet's new caregiver.
• it can go into effect before your death if you are no longer able to care for the pet yourself due to incapacity.
• payments to the new caregiver can be made incrementally based on the timing of your choosing (i.e. weekly, monthly, etc.)
• it goes into effect as soon as you pass away. You do not need to wait for it to go through the probate process which can take months.

To create a pet trust, an estate planning attorney can assist you in selecting a trustee and a caregiver. They will help you adequately identify your pet(s) and determine the necessary funding for each one's detailed care plan.  You can also designate your wishes for any type of end-of-life care, euthanasia and burial or cremation preferences. 

If you end up providing more money than is needed for your pet's care, then you can designate how you would like any remaining funds to be allocated. 

At Stouffer Legal, we can assist you in creating a Pet Trust for your beloved companions. Contact us to learn more.