Pets are more and more intertwined into our families, and it shows. You can buy pet health insurance, get your favorite animal a custom bed and even send them to their own spa.
It’s no wonder more and more owners are considering what happens to their beloved animals if they outlive the owner. That’s why it makes sense to consider a trust for your furry family.
What’s in a trust
Too often, animals are left to fend for themselves after their owners pass away, and end up in shelters. This is definitely not what the owners intend, but families may be too overwhelmed or unprepared to take on the responsibility of a pet.
Trusts are the best option for pets because you cannot legally leave property or money to any animal. Instead of direct inheritance, a trust can ensure your favorite creature is fully taken care of in the event of your passing.
The benefits for your animals
A trust can fund a level of care for your animals that otherwise may not be available to them after you. By setting money (and instructions) aside, you ensure your animal keeps the lifestyle they are accustomed to.
You can get as detailed as you’d like, including specifying feeding times or grooming routines.
Finding the right guardian
The most crucial part of setting up a pet trust is identifying a guardian. Someone you trust to fulfill the appropriate care and treatment of your animals.
Take time and do your research when you are considering the guardian of your animals. Don’t be afraid to ask questions and make sure you know the person you ask is interested and willing to be a caretaker. Picking the right guardian is key to make sure your pets continue to be loved and happy.
Taking the first steps
If you have a beloved animal (or several), a pet trust may be a good idea. Ensuring quality care for your animals is one of the best gifts you can leave them.
If you’re interested in exploring this idea further, a skilled estate planning attorney can help.