Many people who have pets care for them and even consider their pets as close as children. They want to make sure their pets are taken care of, if they should become incapacitated or pass away. These owners feel that it is their responsibility to provide for their pet’s costs and care when they are no longer able to do so themselves.
Is there a way to take care of your pet’s well-being for the future?
A pet trust is the answer. This type of trust can designate a caretaker to provide for the continued care of your pet. This pet trust will appoint a designated person to follow your exact wishes in caring for your pet.
It is also possible to name a pet caretaker and a successor caretaker in your Will. However, using a Will for this purpose may not be the best option, as it is only effective upon your death, but not if you should become incapacitated in life. A Will needs to be probated after death, which may take some time, therefore leaving your pet “officially” uncared for until your estate is settled. A trust does not have to be probated and will expedite naming the new caretaker for your pet including obtaining the funds for its care.
Pet owners need to plan now for their pets including decisions on: how to care for their pets, and the type of veterinary care needed as well as the funds to provide for this care, including the management of these funds.
Our law firm can help you personalize a pet trust outlining detailed instructions on your pet’s care now and in the future.