Pets play a vital role in the family dynamic. Unfortunately, the state does not consider pets family members, they are only considered to be personal property. This means you cannot directly leave money to your pets. You can, however, ensure your pets are covered in your estate plan.
One way to do this is to set up a pet trust.
Like other trusts, a pet trust is a legal arrangement that ensures your pets are provided for once you are no longer able. In the pet trust, you will
- Set aside money.
- Appoint a trustee.
- Designate a caretaker.
- Specify the details of your pets’ care, such as vet visits, brand of food, and grooming needs.
Pet trusts are essential if your pet has a long life span, requires specialized treatment, or you have multiple or exotic pets which may be challenging to place in a new home.
Other estate planning tools, such as a will, may also be appropriate for your pets’ care.
Leaving pets out of your estate plan means they may end up in the hands of someone you don’t trust or even at the pound. To ensure your pets’ uninterrupted safety and comfort, please contact Kendal Law Group to discuss your options.