Put a pet trust in place, just in case…

This vintage typwriter is our featured image.

 

Alexandra Bogdanovic
Founder/owner of In Brief Legal Writing Services, Alexandra Bogdanovic. Photo by N. Bogdanovic

Just call me old-school.

In addition to the calendars on my phone and iPad, I still keep a wall calendar in my home office. And to be honest, I’ve never been happier about turning the page.

Yes, March was a tough month here at In Brief Legal Writing Services. There was the anniversary of my father’s death; the loss of an old friend; and an unspeakable family tragedy that left us reeling. Collectively these incidents serve as a reminder that life — the wild and crazy and wonderful and wacky ride we’re all on while we’re here — is so incredibly short.

No one will live forever…

Collectively, it was also a reality check. A big one. After all no one likes being reminded about their own mortality. No one like to think about “what will happen if… or what will happen when….” No one really wants to think about putting their affairs in order. So it’s easy to procrastinate. You swear you’ll do it tomorrow and then tomorrow becomes the next day and the next thing you know it’s a week later… so you start all over.

But as any good lawyer will tell you, making your wishes known through a will or trust is essential. If done properly, the creation of a written, legally binding directive regarding the provisions for your loved ones in the event of permanent disability or death, will give everyone peace of mind.

True, there is a lot to consider. And depending on your circumstances, these considerations may go well beyond “who gets what.” For pet owners, a critical question that is often overlooked is, “what will happen to the animal(s).”

What is a pet trust?

A recent article on forbes.com addresses the issue. Specifically it discussed the importance of creating a “pet trust.”

Basically, a pet trust is a legal mechanism that allows an owner to have a certain amount of money set aside for the care of his or her animal(s) in the event of catastrophic illness/injury or death. It also allows the owner to designate someone to manage the trust and/or care for the animal(s). It can also detail how the animal’s or animals’ needs should be addressed.

Because pet trusts are governed by individual state laws, experts strongly recommend that pet owners discuss the matter with qualified attorneys during the estate planning process.

You can find information about individual state laws regarding pet trusts here.

Don’t leave your pet’s future to chance…

Each situation is different, so a pet trust might not be the right option for you. But unless you know beyond a shadow of a doubt that  friend or relative is willing to assume responsibility for your pet(s) in the event that you can no longer care for the animal(s), please, please, please make some sort of provisions for their care. Don’t leave it to chance.

Advertisements

2 thoughts on “Put a pet trust in place, just in case…

  1. This is good advice. We donate to a marvelous organization called Paws for Seniors that fosters & adopts put only older dogs & cats; it’s very sad to see the number of animals who are left behind when owners either die or become unfit. Many times these animals are already “bonded” which makes them even harder to re-home.

    Like

    1. Thanks for reading and sharing your thoughts. Yes, it’s very sad to see what happens with older pets when people can no longer care for them. Paws for Seniors sounds like an awesome organization, though!

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s