“Blessed is the person who has earned the love of an old dog.”
We all love our pets dearly – in fact, a recent study found that seventy-three percent of dog owners and sixty-five percent of cat owners consider their pets to be “akin to a child or other close family member.” So, it comes as great news (and a relief) that pet trusts are now offered in all 50 states!
What exactly is a pet trust? They work similarly to any other trust, and the setup is easy, with one requirement: the money set aside must be dedicated solely to the animal’s care should they survive their owners. Not only does this new bill offer comfort to senior pet owners, it solves a problem that occurs when just about any pet outlives its owner – what to do with the sweet animal. Amidst all the logistics, the furry companion is sadly left behind; adopted by a resigned relative, or worse — sent to a shelter. With pet trusts now available in all 50 states, owners can have a peace of mind that their beloved four-legged friend will be adequately cared for by whomever is listed in the trust (whether it’s a family member, close friend, or neighbor who was especially fond of Fido). Plus, your pet trust can be as detailed as you want it to be – you can include their favorite treats, how frequently they need walks – down to all their little quirks. Plus, pet trusts aren’t just limited to dogs and cats, your horse or even parrot can be included, too.
Curious to read more about the topic, and how to set up a trust? : See here.