Have Pets? Don't Leave Them Out Of Your Trust

There are almost 80 million US households that have a pet, with 42% of those homes having more than one pet. While a pet is often a beloved part of any family, it's possible for you to accidentally leave them out of your estate plan. After all, pets are considered personal property, and you will want to decide who gets your pet just like you would want to decide who gets your home or grandmas fine china. The best way to make sure that the person you select takes care of your pet after you pass away is with a trust.

Is A Pet Trust Necessary?

If you are married at the time that you pass away, your pet will automatically go to your spouse if you do not have a trust. In that situation, a trust is not necessary. However, if you are an individual that has not married, has no children, or wish for a pet to go to a friend rather than a relative, including your pet in a trust will be necessary. The situation basically depends on if you have people in your life that you want to depend on taking care of the pet, either if you pass away or become incapacitated in the hospital.

How Do You Identify The Pet?

It may seem obvious to you who your pet is, but it can be difficult for a court to truly know which pet is which, especially if you have multiple pets. In your trust, you should record all identifying features about a pet that makes them unique. This can include an odd colored patch of fur, their eye color, or even a scar from a surgery. A microchip can even be placed in your pets that will give absolute certainty when identifying each pet.

Should You Include Care Costs In A Trust?

Many pet owners do leave money in a trust to go with their pet. This includes money for food, grooming, pet insurance, medications, vet visits, and even a dog walker or pet sitter. This can be a motivating factor for someone to want to have your pet after you pass away, which is why it's so important that you identify who is responsible for a pet in a trust.

If you have never set up a trust before, work with a lawyer that can assist with all the legal paperwork involved with doing so. Click here for more information.

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