From the day you bring your pet home, they are a member of the family. No one is better at cheering you up and loving you unconditionally. Whether your pet is finicky or easygoing, no one knows their favorite foods and personality quirks like you do. Thankfully, establishing a pet trust ensures that your constant companion is always loved and cared for.
Whether your best friend has fur, feathers, or scales, an attorney can help you develop a plan to provide for your pet in the event of your incapacity or death. Pet trusts exist for this purpose, and can be customized according to your pet’s needs. Like any other type of trust, pet trusts are legal agreements between the person who establishes the trust, called the grantor, settlor, or trustor and the person who holds the assets in the trust, the trustee. Typically, after a pet trust is established, the grantor places a set sum of money in the trust at regular intervals to fund it. Upon the grantor’s death or incapacity, the trustee makes regular payments from the trust funds to the pet’s designated caregiver for the rest of the pet’s life.