Pet owners love their pets and may want to ensure that their beloved companion receives care during their lifetime and after their death. A pet trust assures that your wishes are in force so that your beloved animal has funded visits to their vet or other necessary care. A pet trust can continue for the life of the pet or a maximum of 21 years. The state may determine the care that lasts longer.
Can a pet trust be in force while the owner is alive?
Yes, if you become sick or injured, your instructions for the pet’s care will be in force. You know your pet and may list people who might be willing to provide care. If the pet owner cannot care for the animal, specific instructions in the trust go into effect.
You receive peace of mind with a specific trust
Trusts ensure the following of your directions. If your dog needs two romps in the park per day, you can designate who will make sure this happens. If your cat is fussy during dinner time, your trust can designate their favorite food.
You may name a trustee
You will provide the name and address of a trustee and successor trustee as well as a caregiver and successor caregiver. These can be individuals or corporations. Some of the instructions that you can give within this type of trust include the following:
• Description of the pet to avoid fraud
• Detailed description of your pet’s standard of living and care
• Required inspections of the pet by the trustee
• Determination of funds needed for expenses of the pet’s care
• How funds go to the caregiver
• Designated beneficiary of funds in the trust remain after the pet’s passing
• Provision for final disposition at the end of the pet’s life
The reasons for establishing a pet trust include the continued good care of your pet as well as peace of mind during your lifetime. You can rest knowing that your beloved pet will have the care that you wish for them and that your instructions will be the guide.