Pets are important members of our family. They bring us joy and comfort and keep us company. As parents leave estates to their children, more and more people are including pets in their planning. While some may believe establishing a pet trust is extraordinary behavior (remembering that Leona Helmsley left $12 million to her beloved dog, Trouble), today arranging for the care of your pets after you pass is commonplace.
Pets, as smart as they are, will never be able to choose their caregiver or hold cash or property. A Pet Trust allows property to be held by a person (the trustee) to care for your pet for the life of your pet. The trustee follows the specifications that you choose.