What is a pet trust and how does it work?

A pet trust is a legal arrangement, recognized in the state of California, that sets aside money for the care and wellbeing of someone’s pet after they pass away or become incapacitated. Pet trusts are typically created as part of an overall estate plan and can be funded either through the pet owner’s will or through a trust created in their name. Under the terms of the pet trust, the trustee—the person appointed to manage the trust—is responsible for managing and investing the funds set aside for the pet’s care. The trustee may also be responsible for using the funds to pay the pet’s expenses, such as vet bills and food, and ensuring the pet is being properly cared for. The process of creating a pet trust can be relatively simple, depending on the state in which the individual resides. In California, individuals can create a pet trust via their Last Will and Testament or through a separate trust document. In either case, the pet owner will need to provide detailed instructions regarding the care and maintenance of their pet, as well as designate an appropriate trustee. An attorney can help ensure that all the necessary details are found in the trust document to ensure the pet’s care and maintenance are looked after in the event of the pet owner’s death or disability.

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What is a pet trust and how does it work?

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