Saturday, April 30, 2016
For many people their pet is like a member of the family. People will want to make sure that their beloved animal companion is taken care of after they pass away. Most states allow people to set up pet trusts to provide for their pet if something were to happen to them. This article discusses some of the important items that people should remember when setting up a pet trust. A pet trust that is put together well would be an important part of the estate plan. The pet owner should provide detailed instructions in the trust instrument about how they want their pet to be taken care of. It is a good idea to seek out the assistance of an estate planning professional who is familiar with the process of setting up pet trusts.
See Catherine F. Scott Murray, Caring for Pets As Part of Your Estate Plan, The National Law Review, April 21, 2016.
Special thanks to Donna Turley for bringing this article to my attention.