How a Pet or Equine Trust can help care for a pet when the owner passes away…
What happens to my Pet?
A pet is considered to be personal property and when a pet owner passes away the pet is distributed as is indicated in the pet owner’s Will. Often times, however, a person does not have special planning for his or her pet in a Will.
If a pet owner does not take steps to plan for the care of a pet, the following things might happen:
Thankfully, with the use of a Pet Trust, a person can have more control over what happens to his or her pet upon the pet owner’s passing.
What is a Pet Trust?
How does a Pet Trust Work?
In short, a Pet Trust should not be considered an extravagant inheritance, but rather more of a guardianship type of relationship similar to what a person could set up for his or her own child. As it can be seen, a Pet Trust is a useful tool when considering what should happen to a pet when the owner passes away. The pet owner may set up a Trust and dictate who should take care of the pet and provide for structured legal oversight to ensure the pet is taken care of. A Pet Trust should be well thought out and planned. There are a few ways to go about setting up such a Trust and each way should be considered carefully and discussed with a qualified attorney. After all, we plan for how our children will be cared for when we pass away, why not plan for how our pets will be cared for as well?
Peter A. Moustakis is the founder of Moustakis Law LLC
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Please note that the information contained in this blog is not an exhaustive list of the matters pertaining to the discussion. Every person has a unique situation that must be tailored with the advice of an attorney after consultation. The material published on this blog is made available by the Moustakis Law LLC for informational purposes only and should not be considered legal advice. Before you make any decision that may have legal implications, you should consult with a qualified legal professional for specific legal advice tailored to your situation. Your visiting this blog does not establish an invitation to enter into, and does not create an attorney client-relationship.