We love our four-legged members of our family, but few of us consider who will take care of them and how they will be provided for after we die. Although you can’t leave money directly to a pet, there are several things you can do to make sure your pets stay well cared for when you can no longer take care of them. With proper planning and the right legal guidance, you can plan for all the loved ones in your life–including the four-legged ones!
A pet trust is an estate planning tool you can use to create a legal obligation to care for your pet. In the trust document, you name a person to care for your pet, you provide instructions for your pet’s care, and you leave money for that purpose. When you die, the person named as trustee will get the money and the pet. However (unlike a provision in a will or living trust), under a pet trust, the trustee will have to follow your instructions and use the money only for the care of your pet. Please make sure you have an honest conversation with this person and make sure that they will be happy to look after your pet.
There are several options for your pets, whether or not you have close family and friends who are willing to take them on should anything happen to you. But whichever option suits you best, you can only ensure it is carried out by making a clear and binding will and informing your loved ones of your wishes in advance.
Heidi S. Webb, Attorney at Law serves clients in Daytona Beach, Ormond Beach, Port Orange, Melbourne and beyond with matters of Elder Law, Estate Planning, and Probate Law. Contact her today to schedule a free consultation. Visit her page on Facebook, or see what her clients are saying to learn more about Heidi.