TAKE CARE OF YOUR PETS WITH A PET TRUST

Many people are familiar with creating a trust as part of their estate planning.  But what many don’t know is that they can create a specific trust for their pet’s care and wellbeing should they predecease their pet or find themselves without the capacity to care for their pet.  Several states, including those of New Hampshire, Massachusetts and Maine, specifically have laws that recognize the legal validity of a trust made for a pet.  This means that the trustee of the trust and the named guardian of the pet are legally bound to follow the wishes of the owner.  To deviate from those wishes, the trustee and guardian would have to get permission from a judge.

An owner can set aside a certain amount of money for the care of their pet, including basic supplies, medical care, and, of course, the occasional spoiling (ok, let’s be honest, regular spoiling).  The owner can also set out who has authority to determine whether a pet’s quality of life has so deteriorated that the only humane choice is merciful release.  They can also decide what happens to any remaining trust funds after the passing of their pet, including donation to animal-related nonprofit organizations.

A pet trust can bring comfort to an owner, knowing that should anything happen to them their pet will be cared for.  It can also bring comfort to the owner’s family members who will be given a clear, concise document outlining the owner’s last wishes.  It’s important that we think about our fur/feathered/scaled family members.

An owner can set aside a certain amount of money for the care of their pet, including basic supplies, medical care, and, of course, the occasional spoiling (ok, let’s be honest, regular spoiling).  The owner can also set out who has authority to determine whether a pet’s quality of life has so deteriorated that the only humane choice is merciful release.  They can also decide what happens to any remaining trust funds after the passing of their pet, including donation to animal-related nonprofit organizations.

A pet trust can bring comfort to an owner, knowing that should anything happen to them their pet will be cared for.  It can also bring comfort to the owner’s family members who will be given a clear, concise document outlining the owner’s last wishes.  It’s important that we think about our fur/feathered/scaled family members.