Talk With Your Attorney
I was told by a lawyer (not my lawyer) that a pet trust and a living trust are one in the same. He said they both have the same provisions.
He said by slightly changing the words in a few paragraphs, 95% of the trust articles and the length of both trust are nearly the same.
I am writing to get your opinion, not to try and prove anyone wrong.
1. If the lawyer is correct, and I already have a living trust, could I use that same document as a template, and have my lawyer draw up a pet trust for my pet?
2. Do I need a living trust and a pet trust or can I amend my living trust to take care of my pet?
3. If I can protect my pet by adding an amendment to my trust, what would you charge to draw up the amendment?
4. Can I provide for the care of my pet in my durable power of attorney, or should I have a separate document for that?
Thanks
Billie
Billie, I am not trying to avoid any of your questions or issues, but I cannot begin to answer your inquiries.
Each individual’s estate plan, financial needs and family situation varies tremendously.
A living trust, a trust, a statutory pet trust and a common law trust are very different entities.
You should discuss all of these issues with your attorney after he or she has had the opportunity to secure the necessary information and background to give the proper advice and guidance.
Idle conversation with an attorney unfamiliar with your situation is like securing medical advice on how to set your own broken bone from the internet.
