Protecting Your Pets
According to the latest statistics, approximately 67% of U.S. households have a dog or cat. The pet industry is booming! We love our fur babies and can't imagine what would happen to them if something were to suddenly happen to us.
Having a pet is a responsibility that extends beyond our own lifetime. Although no one likes to think of our pets in distress, what will happen to your beloved companion if you were to suddenly become incapacitated or die? Will your pet live the comfortable well cared for life that they now enjoy - or become one of over half a million pets euthanized each year because no one is available to take responsibility for them?
Many pet owners are finding peace of mind by creating a trust for their pets.
What is a Pet Trust?
The purpose of a pet trust is to ensure your pet’s best health, happiness, and care after you are deceased or otherwise unable to provide that care yourself. A pet trust provides for your pet’s quality of life and legally obligates a trustee to provide ongoing care.
The Pet Trust includes a provision for naming a caregiver to look after your pet in the event you are no longer able to. The caregiver will receive regular payments for the rest of your pet's life to cover food and medical expenses, as well as some extra funds to compensate the pet's caregiver.
The Law Offices of Lynette Williams can ensure your pet’s future is comfortable and bright by providing for them within a pet trust.
How does a Pet Trust differ from a provision for your pet in a will?
Although providing for your pet in your will makes your wishes clear, there are negative aspects to using a will to care for your pet. This is because domesticated animals are considered personal property.
Wills oftentimes go through lengthy probate periods. This means that your pet, like your other household items, can exist within an uncertain limbo before any responsibility for the animal is ensured. Meanwhile, this much-loved living and breathing personal property still needs affection, attention, food, shelter, medical care and recreation.
Pet trusts are unlike wills, in that the trust is immediately effective upon your death or disability. There is no probate or waiting period. The details specified in your Pet Trust ensure the right caregivers for your loved animal are immediately responsible for providing that care, using funds you have designated for this purpose.
Since a Pet Trust is Revocable, you have the option to update it any time when new four-legged family members are added to your household in the future.
Through a Pet Trust, you can leave very clear instructions regarding your pet’s financial well-being, daily living, veterinary attention, physical possession, and eventual burial.