Pet Care Trusts

The Law classifies our pets as “Chattel” which means – personal property.  For pet owners, this notion is heartbreaking, because pets are our family members and we want them to be cared for as well, in the event we die. But – because our pets are “chattel” – only legally enforceable documents can ensure their continued care and support. This can be accomplished by setting up a Pet Care Trust – also known as pet protection agreements that are valid both during the owner’s live and after his/her death. Pet Trusts generally provide for assets to be held in trust for the benefit of a companion animal, designate a pet care stipend, a caretaker, and spell out the distribution of assets, of the stipend, and detail the desired medical care, grooming, etc. of a companion animal.  Moreover, these trusts can mandate that the owner and the companion animal remain together if the owner needs to relocate to a long-term care facility to continue to provide emotional support to the owner. On the companion animal’s death, the remaining funds are designated to go to named beneficiaries.

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