Can I put my dog in my will or should I consider a pet trust?

If you’re concerned about what might happen to your companion pet after your death, it’s possible to create a pet trust to provide for the continuing care and well-being of a loved animal or animals.

Connecticut is the latest of 42 states that has a new pet trust statute. Effective October 1, 2009, Connecticut pet owners can pass away knowing their furry creatures will be provided for with this new trust statute. This is an excellent estate planning tool for pet owners to set up enforceable trusts to provide ongoing care for their animals.

Creating a Pet Trust

Pet trusts can offer pet owners a great deal of flexibility and peace of mind. In most states, a pet trust allows a person (grantor) to set aside a sum of money to care for the pet upon the owner’s disability and/or death.

The trustee of the trust can make regular payments to your pet’s caregiver (trust protector) in the manner the trust stipulates. The grantor can make specific instructions regarding feeding, exercise, housing, and veterinary care. Generally, the trust lasts as long as the last animal named lives.

When planning for a pet, there are many concerns to be addressed and it is important to be as specific as possible in drafting a trust for your pet. It is also important to remember that a pet will pass through the owner’s estate as personal property; therefore, the owner’s Last Will and Testament may need to be updated. In addition, the plan should address the final disposition of the pet, including guidelines for when euthanasia would be appropriate.

Many state’s pet trust laws include provisions that allows the courts to reduce a pet trust to a reasonable amount if it’s excessive. It is advised in setting up a pet trust to put into the trust only what is necessary to care for your pet.

Alternatives to Pet Trusts

Pet trusts are relatively unusual in practice and there are alternatives to consider. Most people bequeath their pet to a trusted family member or specific person along with money to care for the pet. Another alternative is to bequest money to a specific person with the condition that the money be spent for the care of your pet.

As all states have different laws and interpret trust provisions differently, it’s important to contact an experienced local trust and probate attorney to discuss the appropriate way to plan for the life for your pet. Estates planning for pets is one of the fastest growing segments of animal law today.

To follow this uniquie topic, estate planner Denny Meek, Esq. edits a fine blog on the topic.