You may think your pets are family, but the law considers them to be nothing more than personal property just like your cars, furniture, and electronic devices. In order for the law to treat your pets the way you want them to be treated, it is your responsibility to make that clear through estate planning. If you would like your pets to be taken care of properly after your death, you have to plan ahead to ensure their safety and care when you are not able to do it yourself.
Indeed, pets can become our closest companions and it’s only natural you’d want to make sure your furry friend is provided for in your estate plan, so when you die or if you become incapacitated, your beloved companion won’t end up in an animal shelter or worse. Having a will in your estate plan is good, however, it is not the best suitable option for ensuring that they are protected and provided the kind of love and care they deserve. Read here the reasons why.
Including a Pet Trust in your estate plan that names the trustee and spells out legally binding rules for how your pet will be taken care of is critically important to ensure your closest companion will receive the kind of love and care it deserves and will never end up in an animal shelter nor will be taken care of by the wrong people in the event of your potential incapacity or death. Here are some of the most important things to consider when setting up a pet trust.