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 If you are worried about what might happen to your much-loved pet after your death, it's possible to create a pet trust to provide for the continuing care and well-being of a particular animal or animals.
Pet trusts are now legal in Colorado.
You can choose for a pet trust to take effect upon your death or any disability that prevents you from caring properly for your pet.
As the grantor of the trust, you fund the trust with enough property or cash to care for your pet for his or her expected lifetime. The trustee can make payments on a regular basis to your pet's caregiver, and pay for your pet's miscellaneous expenses as they come up.
It's important to be as specific as possible in drafting a trust for your pet. You will want to include:
The name and address of a trustee and alternate trustee (in case the original trustee is unavailable or unable to serve)
The name and address of a caregiver and alternate caregiver
Detailed information identifying your pet (such as microchip or DNA info)
Instructions for the trustee to regularly inspect the pet to prevent identity fraud
The standard of living and care you wish for your pet
A detailed description of the property that will fund the trust
Information on how the remainder of the trust should be distributed once your pet dies
Instructions on the final disposition of your pet's body
How specific should you get in describing your pet's care and maintenance? You know your pet's habits and preferences better than anyone, so be as detailed as possible to insure that your pet gets the care he or she is accustomed to. You will probably want to include such details as:
The type of food your pet prefers
Exercise routines
How often your pet visits the vet, and vet maintenance routines
Any chronic health conditions for which your pet must take medication or receive regular health treatment |
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