Ensuring Your Pet's Future: A Guide To Pet Trusts

As pet owners, we're always concerned about the safety and well-being of our furry companions. Because let’s face it, they’re family.

So of course, we would want to ensure they’re well taken care of - no matter what happens to us.

What can we do? PET TRUSTS!

Pet trusts are becoming more popular as a way to address this concern and ensure our beloved pets are cared for long-term.

What exactly is a Pet Trust? How can we go about creating one? Are there certain requirements?

Let’s delve a little deeper in some of these questions. 

What is a Pet Trust?

A pet trust is a legal agreement that allows pet owners to set aside funds to take care of their pets after they’re gone. 

The trust is managed by a trustee who makes sure that the funds are used to cover the pet's care in the event of the owner's incapacitation or death. 

While there are other options for pet owners, such as assigning a beneficiary or creating a Power of Attorney, a pet trust provides more stability and control to ensure that the pet is adequately cared for.

The Planning Process

The first step in creating a pet trust is to identify a caregiver for your pet(s). This can be an individual or a non-profit organization that will provide care for the pets when you're no longer able to do so. 

Once you've identified a caregiver, you need to decide on the amount of money you'll need to provide for the pet's care. 

This amount should be based on factors such as the pet's age, health status, and overall needs. 

The next step is to choose a trustee who will manage the trust assets and ensure that the funds are used according to your instructions. 

Finally, you'll need to draft a legal document.

Legal Status of Pet Trusts in California

Pet trusts are recognized by law in California, and they’re subject to the same rules and regulations as other types of trusts. 

What does that mean?

It means that the trust document must comply with specific legal requirements, such as being in writing, signed by the owner, and witnessed by two people. 

Additionally, it's crucial to ensure that the trust document clearly outlines the intended use of the funds and the responsibilities of the trustee and caregiver. 

If the trust is not properly drafted and executed, it may be contested in Court, which can be a lengthy and costly process and nobody wants that.

Taking the necessary steps to ensure that a pet is cared for following its owner's death is undoubtedly important, whether it's through setting up a trust, or making arrangements with family members and friends. 

Though sometimes difficult to consider our own mortality, the knowledge that our beloved pet will be taken care of when we pass can provide comfort in difficult times.

Planning ahead can save time, money and stress after one's death and an experienced estate attorney can help you work through your options. 

Preparing for the future of your pet is a tangible way to ensure their health and well-being and it's never too early to begin!

Have questions? Feel free to reach out. We’re here to help!

DISCLAIMER: The content contained herein is for general informational purposes only.  These materials do not constitute legal or other professional advice.  We do not accept any responsibility for any loss that may arise from reliance on this information.  No reader should act or refrain from acting based on information contained in this article without seeking advice of counsel.