Creating Pet Trusts In California
- posted: Nov. 05, 2020
A pet can be great thing during this difficult pandemic time. Computers can work 24 hours a day. An animal help structure your day. Most pets need to eat, walk and play at a certain time. They can give you love and affection which combat the isolation of the new homebound covid lifestyle.
In fact in the United States there are more households with animals than with children.
With this pandemic when owners become incapacitated or pass away who will take care of their pets? If there is no family member or pet loving friend that can afford to take care of them, one solution is a pet trust.
A pet trust is a way for owners to set aside some funds for the care of their pets.
Some things to think about if you decide you would like to have a pet trust.
- Who does the owner want to be the trustee, and who does the owner want to be the animal caregiver?
- What type of care does the owner want to or can pay for?
- What happens to the funds if the pet is not be alive at the time of the owners death?
- What does the owner want to do with the pet when the pet passes away and any funds left over after the pet is gone?
- How much money should the owner put in the pet trust for the care of the animal?
- What are going to be the costs of the trust to maintain the animals?
- Is the trust going to provide for some type of accommodations for the pet and or caregiver?
- Is there any alternative for care besides a pet trust?