Should you create a trust for your favorite pet?

On behalf of John J. Pembroke & Associates LLC posted in trusts on Thursday, November 2, 2017.

She cuddles up to you every single night providing a level of companionship that’s deeper than anything you’ve experienced with a human being. She knows when you need her support and you know when she needs yours. It just works: Your pet is the best friend you’ve ever had.

Unfortunately, one of the saddest parts of owning a pet is the day you’ll say goodbye because of the end of her life, or the end of yours. Unlike many pet owners, if you’re getting older, you might be worried that your pet will live longer than you — and you might be wondering who will take care of her when you’re no longer there to comb her hair and cook her favorite snacks.

A pet trust could be the solution to your worries. Through the strategic creation of a pet trust, you can identify a responsible caretaker for your pet — who will give her the level of care and love that meets your standards. In fact, you probably have just the friend or family member in mind. As another important part of your pet trust planning, you can fund the trust to provide financial disbursements to your pet’s caretaker to pay for food, treats, luxuries, veterinary care and other necessities in order to lessen the financial burden on your pet’s caretaker.

A pet trust is a great way to offer your thanks and support to your pet’s caretaker. You can even plan the trust so that your pet’s caretaker personally benefits from any remaining funds after your pet passes away.

Do you want to ensure that your pet is well-taken care of after you’ve passed away? An Illinois estate planning lawyer can offer you guidance and support for all your pet trust planning needs.