In recent years, planning for the care of a beloved pet through a pet trust has become more common. A pet trust is a way of arranging for the care of one’s pet after the owner has passed away. Some pet trusts may specify who will care for the pet as well as provide funds for the pet’s care.
This trend of providing a pet trust has sparked the growth of other related services such as: pet retirement homes, attorneys who specialize in pet trusts, and even how-to books on estate planning for your pets.
When planning the care of a pet after the owner passes away, one should consider whether or not the pet is a good match for their new caregiver. Choosing a family member or friend is common. Usually owners will request that their family member or friend care for their pet after they pass away, and they will allot a certain amount of money to be given to the new pet owner so as not to be a financial burden to them.
Whether you choose to provide a pet trust for your pets or not, perhaps take a moment to consider who would care for your pets and how would they be cared for should something happen to you. Making those plans in advance ensures the best care for your beloved four-legged family members who depend on you.