What Happens When the Pet Trust Goes Bust?

Posted on March 9, 2009 by Danny Meek


What happens if the money that I set aside for my dog Lenny in a pet trust runs out before Lenny dies? Does the Trustee or Caregiver have to pay monies out of their own pocket?


Gina                                                Las Vegas, Nevada

If that happens, Lenny will probably, unfortunately be turned over to a pet organization or euthanized, unless someone volunteers to adopt him.

Fortunately, at least, the trustee or caregiver would not be obligated to pay for any of Lenny’s expenses. An adequately funded trust will avoid this problem.
 

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