Ensure Your Pets Are Protected and Well-Cared for in the Event of Your Death or Incapacity

If you have pets, you likely want to make sure your furry family members are well-taken care of if anything happens to you. Unfortunately, wishing for their good fortune isn’t enough. Too many animals are abandoned when their owners die and face rehoming, life in an animal shelter, or worse.

One way people leave money and instructions for the care of their pets is with a will. But wills cannot ensure the funds are used in the way you want them to be, nor do they ensure the caregiver will care for your pet. A person who is given a pet in a will can turn around and leave the pet at a shelter and then pocket the money left to them for their own use instead.

To ensure your furry friend is taken care of when you become unable to, you can leave assets for their care and custody. The best way to leave your faithful companion assets is to set up a pet trust.

With a pet trust, you can create rules for how the trust’s funds can be used. You can name a trustee—the person who will control and manage the funds—and a caregiver for your pet. By having a trustee manage the funds, you can rest easy knowing the caregiver will only benefit from them if they are used according to the rules of the trust. Trust creation can be complicated, so working with a lawyer to develop the terms of the pet trust is highly recommended.