#pet trust

[nobody-i-know]

I love when animals just sleep out in the open around the house because it indicates they have a ton of trust in you that they're safe and don't need to hide somewhere while they're unconscious. Like what an honor

[donkeywhisperer]

Create A Pet Trust For Your Animals

Why is it important to have a pet trust for each of our animals? Our pets are family they deserve to be taken care of with dignity and love. The truth of the matter is this when we become unable to care for our pets or die our pets become vulnerable and are at risk for abuse. Yes abuse as many dogs and cats are sadly given to shelters or worse euthanized. Equine are sold for pennies on the…

Create A Pet Trust For Your Animals

[petcareinsiders]

I just read Mark's insightful article on how proper planning can ensure your pet can enjoy a comfortable lifestyle if you pass first. It covers: .: Legal aspects of leaving money to pets. .: Choosing a reliable trustee and guardian. .: Creating enforceable pet care instructions. .: Calculating funding needed for pet trusts. .: Ongoing administration and tax considerations. .: Contingency planning for caretakers.

Have you made a trust for your pet?

[thebronxchick]

What would happen to your pets if you weren’t here? — The Washington Post

Appointing a guardian, establishing a pet trust and other ways to ensure your animals will be cared for if you’re no longer around or able t

[themysticsub]

What would happen to your pets if you weren’t here? — The Washington Post

Appointing a guardian, establishing a pet trust and other ways to ensure your animals will be cared for if you’re no longer around or able t

[paulpremack]

Planning for your pets is vital

Planning for your pets is vital

This column first appeared in the San Antonio Express News on April 27, 2018

Dear Mr. Premack: My wife and I love animals and have two dogs and a cat. Our finances are stable enough that we can provide substantial inheritances to our children. But we also want to provide money for the care and comfort of our pets after we die. In our old Wills we just gave the pets to our son with some extra…

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[meowoofau]

the fight against pet cancer

According to Pet Trust, cancer kills one in four dogs! That’s a staggering number and a grim outlook for man’s best friend. To help find a cure, you can donate to Pet Trust. What’s more, Purina will match every dollar you donate (up to $125K).

[is-that-jdsupra-blog]

Inherit the Wind(up Toy): Estate Planning for Your Pets

“Under common law, it is difficult to provide for a pet in a will. Pets are regarded as property, and property can’t own property. Furthermore, in most jurisdictions, you can’t make an animal a beneficiary to a traditional trust, because a beneficiary has to be able to enforce the trustee’s duties, something an animal cannot do.” (Passing it on to pets: Fat Cats & Lucky Dogs by Barry Seltzer) 

We’ve all seen the story: recluse heiress leaves entire fortune to her cat Fluffy, who finds himself rubbing up against royalty and self-made millionaires on the annual Forbes 400. But most pet owners aren’t millionaires, and they’re not trying to leave their pets with castles and cars and cold, hard cash. They’re just people who want to make sure that their faithful companions are taken care of when they’re no longer around to do it. How do you do it? 

If you live in one of 44 states that have enacted the appropriate laws, you can set up a pet trust that provides for the care and maintenance of your pet after you are gone. For your reference, here are five steps in that process: 

1. Identify a pet caregiver:

“In some households pets are key members of the family and any estate plan that doesn’t address their needs would be found incomplete. An important first step in this process is to discuss your desires with the person you wish to care for your animals after you are gone. There are several questions you should ask yourself and discuss with the potential caregiver.” (Estate Planning for Pets by Debbie Cunningham) 

2. Provide the caregiver with a Power of Attorney:

“Like other legal devices, the power of attorney is a document that by itself cannot ensure your pet is fed, walked, medicated, or otherwise cared for. It is simply a tool to assist your efforts in thinking ahead and finding temporary or permanent caregivers who can take over the care of your pet should the immediate need arise.” (What Will Happen to My Pet When I Die?: Providing a Future for your Pet by Mark Nacol) 

3. Set out specific care instructions in writing:

“Provide detailed care instructions however, as care needs may change, you may want this to be a separate letter not contained in the body of the trust. It will not be enforceable as a trust document if it’s not in the body of the trust, but is useful as guidance for the care of the animals. However, certain provisions may be best to state in the trust itself such as if two particular animals must be kept together or if there are certain people you do not want to act as caretaker of your pet(s). (Companion Animal Trusts by Mike Harrington) 

4. Establish a back-up system:

“Under the probate code, any nonprofit charitable organization that cares for animals, or a beneficiary or person designated by the trust, may make reasonable inspections to ensure that the [pet trust], the books and records of the trust, and where the pet is living are proper.” (Estate Planning for Pets and Domesticated Animals by The Law Offices of John C. Martin) 

5. Prepare for the worst: 

“The pet trust should include a provision addressing what should be done if your pet lives so long that the funds in the trust run out. It’s hard to believe that the guardian might not have bonded with your pet and be willing to continue caring for it long after the trust funds run out. But if that’s the case, the trust should direct the guardian to deliver your pet to a ‘no kill’ animal rescue.” (Estate Planning for Pets: What Happens to Your Beloved Pets After You Die? By Law Offices of Janet L. Brewer) 

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Related Commentary and Analysis

• Ruh Roh Raggy! A Leave of Absence to Care for Your Pet? (Franczek Radelet P.C.) 

• All My Children Wear Fur Coats - How to Leave a Legacy for Your Pet ("Peggy" Margaret Hoyt) 

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