For many of us, pets are more than just animals, they are cherished members of our family. Yet when it comes to estate planning, these companions’ care is often overlooked. By using a pet trust, a legal tool that allows pets to be well-cared for after their owner passes away, owners provide for their loving pets and receive tremendous peace of mind.
A pet trust is a legally enforceable arrangement that provides funds and instructions for the care of pets upon an owner’s death or incapacity. Unlike informal promises or general provisions in a will, pet trusts offer a structured, reliable method of guaranteeing a pet’s physical care and financial needs are satisfied. California recognizes pet trusts, thanks to the growing awareness of the vital role animals play in our lives and the desire to avoid uncertainty.
Creating a pet trust involves making several thoughtful decisions while working alongside an estate planning attorney to draft a trust document. The trust often names a trustee, an individual or institution tasked with managing the funds, and a caregiver who will be responsible for the pet’s daily needs. These roles can be assigned to the same person or separate individuals, depending on one’s preference, the complexity of care involved and often the nature of the overall estate plan.
A well-crafted pet trust should include a realistic financial allocation. Owners should consider the pet’s expected lifespan, typical expenses like food and veterinary care, and any special needs such as medication or grooming. Additionally, detailed care instructions are essential and can include everything from feeding schedules and exercise routines to preferred veterinarians and emergency care protocols.
Importantly, the trust should also name successor trustees and caregivers, to ensure continuity if someone becomes unavailable. This level of detail not only provides security but also makes the trust legally robust and less prone to challenges and ambiguity. It also alleviates financial pressure from caregivers who might otherwise be willing but unable to take on the cost of another animal.
A famous example of a pet trust is from real estate magnate Leona Helmsley, who famously left $12 million to her dog, Trouble, via a trust. Though a court later reduced the amount, the case brought national awareness to the concept of planning for pets and reinforced the legitimacy of using trusts for their care.
Pet trusts are not just for the ultra-wealthy. They are practical, flexible tools that can fit into a broad range of estate plans. Whether someone owns a rescue dog, a show horse, or a flock of parrots, a pet trust allows them to ensure that their companions are not left vulnerable.
While estate planning attorneys often focus on the traditional elements of wealth preservation and legacy, Chauvel & Glatt’s experienced Estate Planning attorneys realize many clients see their pets as part of the family and suggest including a pet trust in the estate plan as an act of love and foresight.
Contact Chauvel & Glatt to discuss your situation, especially if you want to protect your cherished pets.
This material is provided by Chauvel & Glatt and is designed to provide informative and current information as of the date of the post. It should not be considered, nor is it intended to constitute legal advice. For information on your particular circumstance, please contact Chauvel & Glatt at 650-573-9500.
