Protect your furry friends with the right estate plan

Protect your furry friends with the right estate plan

On Behalf of | Jun 14, 2022 | Estate Planning |

No one wants to think about leaving behind their pets when they die. They also don’t want to imagine a time when they can’t be there to take care of them because they’re too ill or injured to do so.

Unfortunately, those things do happen, and pets can end up being passed around families, rehomes or taken to shelters at a time when everything changes.

To make sure that doesn’t happen to your pet, you have a few options. One is to set up a pet trust, and another is to will your pet to someone upon your death.

Setting up a pet trust protects your pet’s best interests

While you might think that someone in your family would take over caring for your pet, that’s not necessarily guaranteed. People may have good intentions but be too busy to take care of your pet or have allergies that make it an impossibility.

The best thing you can do for your pet is to set up a pet trust that provides financial support to take care of the pet. You can assign the trust to the pet and have it pay out to the person who decides to be the caregiver. To make it a good arrangement for a caregiver, you might decide to add additional compensation for them, or you may have the trust pay out to them when certain tasks are completed, such as taking the pet to the vet a few times a year.

You can include provisions in a trust to dictate how to take care of your pet, which is an additional benefit if you want to be sure that your pet is on a specific schedule or receives a specific kind of care.

Will your pet to someone you trust

Pets aren’t quite like children. They are still thought of as property. As a result, you may be able to will your pet to a beneficiary or heir. For example, if you know your niece loves your dog, willing the dog to her if you pass away may be a good choice.

These are a few things to consider to help protect your pet. There are legal options available to you.

William G. Peterson

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