There are many things to think about when designing an estate plan. Much of the focus in estate planning will be on making sure intended beneficiaries are taken care of in California. This may involve creating a trust for one’s heirs. However, many times people will forget about their pets and do not realize that pet owners can create a trust for their pets that they may unexpectedly leave behind.
Failure to consider pets when planning for estate administration can leave one’s pet animals in a bad situation. In animal shelters, many pets end up dying if the animal shelter is unable to find a home for the pet. This danger can be particularly higher if the pet has been afflicted with some type of medical condition.
On the other hand, with a trust especially created for the care of one’s pet, much of these problems can be avoided. This trust will include enough funds to pay for the supplies and services needed to properly take care of a pet for the rest of the animal’s life. The trustee will be in charge of implementing the care for the pet in the case of something unexpected happening to the pet’s owner.
However, just like with any type of trust, a pet trust needs to contain the correct legal language in order to ensure that one’s wishes will be enforceable by law. Failure to do this can result in the trust being challenged in the court of law in California. This can result in unnecessary legal expenses for beneficiaries and can possibly put a beloved pet in danger. Therefore, an understanding of the laws regulating administration of a trust is essential for comprehensive trust planning.
Source: rep-am.com, “Estate planning for Fido Republican American”, Corbie Hill, October 23, 2015