You likely consider your pet a part of your family. Thinking about losing them one day is devastating. However, most people don’t think about what would happen if they die before their pet does. Since your furry friends are important to you, it’s vital to plan for their future and ensure someone is around to take care of them if you no longer can.
You could create a trust for your pet so it receives the ongoing care it needs to remain safe, happy, and healthy. Leaving money behind to pay for your pet’s food, healthcare, and other necessities can give you peace of mind knowing they won’t suffer once you’re gone.
Below are steps you should follow while creating a trust for your pet.
Choose a Beneficiary
No matter how smart and well-trained your pet is, they can’t take care of themselves or manage your finances if you pass away. You will need to select a beneficiary to handle your pet’s day-to-day needs.
The person you choose should be someone you trust to provide your pet with the best possible care. Most people pick a family member or friend already involved in their pet’s life.
For example, your parent might be your go-to sitter when you go on vacation. Picking someone your pet knows and likely developed a bond with will make this a smoother transition.
It’s also a good idea to pick a successor beneficiary in case your first choice can’t take care of your pet for some reason.
Appoint a Trustee
The trustee is an individual responsible for the financial aspects of a trust. This person will have control over the account and the distribution of funds for the care and maintenance of your pet.
Your trustee should also be someone you trust. You should know they will keep your pet’s interests in mind and use the money you leave behind for your pet instead of for their own personal gain.
Leave instructions Regarding Your Pet’s Care
You should leave a detailed list of everything your pet needs. Include important information, such as:
- Feeding schedules
- Preferred food brands and flavors
- Veterinarian’s name and contact information
- Favorite toys
Provide Medical Information
Organize your pet’s medical records so your chosen beneficiary can access them when necessary. You should also include instructions about how your pet’s new guardian should handle important medical decisions.
For example, if your pet suffers an injury or illness, explain the steps you want the guardian to take to care for it.
You can also include instructions regarding your pet’s death and whether you want a cremation or burial.
Set Aside Money
Transfer money into a trust that the trustee can use to provide funds to your appointed beneficiary specifically for your pet. You can set aside funds for their veterinary appointments, emergency medical care, food, toys, and other expenses.
Planning the amount of money necessary to care for your pet is crucial. You can review your bank statements, receipts, and invoices to determine how much you should leave behind to provide for your pet’s needs.
Contact a Brandon Pet Trust Lawyer
Ensuring that your pet receives the care it needs and deserves if something happens to you is essential. Your pet means everything to you, and you want to protect it no matter what.
If you’re interested in learning more about setting up a trust for your pet, contact our Brandon pet trust lawyers at (813) 438-8503 to schedule a consultation.