When planning for the future, you may have decided how you want your estate distributed, who your power of attorney will be, and what charities you would like to donate to. However, have you considered what will happen to man’s best friend? If you have a pet, treating them like family and detailing how you’d like them to be looked after is essential. Keep reading to learn how you can care for a pet after you pass and why you need the assistance of a PA trusts attorney to help you through the process.
What can I do to care for a pet after my death?
If you want to care for a pet in the event you pass away, it’s essential to understand your options. The most common choice for taking care of a furry friend is to create a pet trust.
A pet trust provides a wide range of protections for your pets. For example, you can set aside money to cover the cost of food, pet supplies, veterinarian bills, and grooming expenses. Similarly, a pet trust allows you to name a guardian who will assume responsibility for the pet. It’s vital to ensure the person you ask to care for your animals is ready for the obligation. You may also want to consider naming an alternate guardian in case the person you named is unable to care for the pet when the trust goes into effect.
Next, it’s essential to create detailed instructions about what care for the pet entails. This includes their feeding schedule, how to administer medications, sleeping arrangements, and other important information that pet caretakers must be aware of.
However, it is necessary to note that your trust can only cover animals alive during your lifetime and ends when the last living pet passes away. A trust cannot take care of any descendants of your pet born after you pass.
How do I create a pet trust?
To set up a pet trust, you’ll need to enlist the assistance of an experienced attorney. Unfortunately, these legal documents can be complex, and making a mistake may end up invalidating the entire document.
One of the most important considerations to keep in mind is how much money you want to leave for your pet. It’s crucial to provide a close estimate, as some beneficiaries may challenge the trust, and courts may redistribute excess funds if they believe your pet is being taken care of for a small portion of the funds.
At Friedman Schuman, we understand that you treat your pet like family. As such, our dedicated legal team will do everything possible to help you navigate the process of establishing a pet trust to ensure it’s legally valid. Contact us today to learn how our legal team can help you achieve peace of mind for you.