Pet Trust
Novas Law Group | Downey, CA
Have you considered including your pet in your estate planning? During estate planning, people often think about their loved ones and who will receive assets after they pass away. Since people consider their pet to be an essential member of the family, more are considering creating a pet trust that details what happens to the pet when the owner is deceased. A pet trust is a plan that details how you want your pet to be cared for as part of your estate. You can choose a person or an organization to receive your pet upon your death.
Why Make Plans for Your Pet?
If you do not have a Will or trust that states what you want for your pet, a decision may come through probate. Your pet will be assumed as “property” that will go through a court process to determine what will happen to your pet based on state law. Many choose to create a pet trust to ensure their pet will receive the quality of care it received from its owner.
What Happens When You Create a Pet Trust?
Creating a trust for your pet is part of the estate planning process. You will designate a person or organization to care for your pet. The process is similar to naming beneficiaries or people you want to receive your assets upon your passing. Your pet could be given to the state or local animal organization if a person is not available to care for it. Some pet organizations provide insight on care options and ideas you may want to include in your estate provision. Working with an expert legal team may help highlight specific reasons related to your situation to help you understand how you and your pet benefits.
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