If you decide to make a pet trust as part of your estate plan, you will probably have several questions about how estate planning for pets works. For example, how do you choose the right caregiver, especially if no one in your family cares about your pets like you do. It may also be hard to decide whom you can trust with funds you set aside for the care of your pets. Whether you are survived by siblings, parents, children or grandchildren, your heirs may be more interested in getting their hands on your money than respecting your last wishes about the care of your animals.
Because it is unlikely anyone else will care for your pets to the same degree you do, choosing the right trustee of your pet trust and the right pet guardian is often a significant barrier to finalizing your estate planning documents. If you have any relatives or friends you can appoint to serve in this capacity, consider yourself fortunate. Many people do not have anyone they can name as guardian of their pets. While some pet friendly entrepreneurs have started to form businesses to care for pets left behind by deceased owners, there are still too few pet retirement homes and pet sanctuaries to meet the growing demand.
Another common question about making a pet trust is whether it is something you add to your will or living trust, or whether it is a stand alone document separate from traditional estate planning documents. Do you only need a pet trust or do you need other estate planning documents, such as a power of attorney, to ensure your pets are protected in the event of a prolonged illness or disability? The way in which you incorporate a pet trust into your estate plan depends on several factors, such as your other estate planning objectives, how you plan to fund the pet trust, and how much you can afford to spend on your estate plan. A financial power of attorney is recommended when estate planning for pets so a person you trust is authorized to pay for the care of your pets if you are unexpectedly disabled or incapacitated. See financial decisions.
An estate planning attorney with experience in pet trust law can draft the documents you need to ensure your pets will not become one of the millions of unwanted pets dropped off at shelters every year. A lawyer can also draft provisions to direct the distribution of any funds that remain in your pet trust after your pets have passed. You may want these funds distributed to your heirs or animal charities.
Several excellent articles about making a pet trust are available on the website of Berwitz and DiTata. If you want information on how to take the next step in estate planning for pets, their site is a good starting point.
PETRIARCH: The Complete Guide to Financial and Legal Planning for a Pet's Continued Care by Attorney Rachel Hirschfeld is a comprehensive guide to creating legally enforceable documents to protect your pets in the event of illness, incapacity or death. This guide also features a comparison chart of estate planning options for pet owners and sample estate planning forms.
Does Your State Have a Pet Trust Law?
According to the ASPCA, pet trusts are recognized by the laws of 44 states and the District of Columbia as of 2011. Unfortunately, the legislatures of a few states are extremely backward and have not passed pet trust legislation which is critical to reducing the number of pets abandoned after their owners are deceased. If you live in a state that has failed to pass legislation authorizing the creation of pet trusts, contact your state representatives and let them know their failure to act on behalf of animals is reprehensible.
To learn whether your state has enacted pet trust legislation and the specific requirements for a pet trust to be valid, visit the ASPCA Pet Trust Law page. It provides references to state statutes for those states that have pet trust laws, along with important details about pet trusts in each state. A complete list of pet trust laws is also available on the website of the Animal Legal and Historical Center of the Michigan State University College of Law. Their site provides citations to state pet trust laws and the full text version of each statute.
