For some people, pets are like children. They may breed the animals or simply have found one that they love unconditionally. The reality is that most people don’t want to die knowing that their pet may have nowhere to live out its days. The last thing that should happen is for a beloved and loyal pet to wind up in a shelter where it may or may not find a good home.
Pets grieve and should have support following the death of an owner. With a pet trust, you can make sure your pet goes home with someone who will provide the care it needs and guarantee its safety. Here’s a little more about how a pet trust can help protect yours.
Pet trusts versus wills: Make the right decision
While it might seem that a will would be enough to protect your pet, that couldn’t be further from the truth. A will simply provides instructions on how to distribute your property. Yes, pets are considered to be property, but there is an issue with that.
When you distribute property via a will, there are no requirements for people to take care of that property. There’s not even a requirement to keep the property. That might not matter for a table and chairs, but for your beloved pet, that’s a state of insecurity.
A better option is to use a pet trust. A pet trust provides additional protections to your pet so that you know it will receive care. The trust is valid throughout your life as well as once you pass away and has an added benefit. You can dictate exactly what you want to see happen with your pet. For example, if you wish to have your pet receive twice-yearly vet visits, you can include this in the pet trust. Likewise, if you want to leave $500 annually to the person caring appropriately for the pet, you can include that in the trust as well.
A trust gives you the option to make sure your pet isn’t neglected. You can assign one or more people to take care of your pet so that you know at least one person will be able to do so following your death. It’s a good idea for animal lovers to learn more a about pet trusts to have a plan in place pre-need.