Add a Pet Trust to Your Estate Planning

Posted on January 9, 2009 by Danny Meek

If I have provided for my dog Derron in my will, why do I need to consider a Trust Agreement?

Chandra,                                                Milroy, Indiana

Chandra, first of all, I applaud you for including your pet in your estate planning.

Second, keep in mind, that a will only becomes operative and effective when you die.

It can direct who will take care of your pets and how those tasks will be completed only after your death.

A valid Trust can provide for immediate care of Derron in the event that there is an emergency and you become ill or incapacitated.

You can nominate alternate caregivers for your pet and establish methods to fund and pay for the Trust.

A provision for your pet in your will is a good start; now begin the New Year with some planning and thoughts for a Pet Trust.

 


 

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