Concerned about the welfare of your pet after you are gone? Then you may need a Pet Trust!

The recent publicity regarding the provisions in the Last Will and Testament of Leona Helmsley for the management of the $12 million she left for the care and maintenance of her white Maltese, Trouble, has helped to enlighten the general public about the ability to include your pet as a part of your comprehensive estate plan.

Statutory trusts are now legal in California and thirty-seven other states. Your Pet Trust can be a separate document that deals exclusively with all aspects of the care of your pet after you are gone, or it can be incorporated into your Will or trust as part of your comprehensive estate plan. If you desire to include a Pet Trust in your estate, give the experienced estate planning attorneys at Dennis M. Sandoval, a Professional law Corporation a call. We will make sure that your pet’s future will be well taken of.

Here are some factors to consider before giving us a call:

• Who will be the trustee of your pet’s trust? We can draft your Pet Trust to designate a trustee who will manage the assets in the trust as well as a caretaker to handle the day-to-day care of your pet. These positions can be handled by the same person or entity or you can designate different parties to handle each role. One reason why you may wish to designate a separate trustee and caretaker is that it helps creates a system of checks and balances to assure that the finances are actually being used for the care of your pet.
• Who will serve as successor caretaker should your primary caretaker be unable or unwilling to act?
• Do you want your pet to be cared for in specified manner? Is the pet to remain in your home or will your pet be relocated to live with the caretaker? Do you want to specify that your pet is to be fed his or her favorite foods, is to be examined by a specific veterinarian, and designate specific provisions for your pet’s burial?
• How will you fund the Pet Trust? For many of our clients, life insurance is an excellent option to assure there are more than enough funds to provide for the desired level of care for their pet.
• What is to happen if there are unused funds in the Pet Trust after your pet dies? Some trusts direct that leftover money goes to the caretaker, which is a nice way to reward the person who’s cared for your pet. However, this can also give your caregiver an incentive to provide less than ideal care for your pet in the hope of maximizing what is left after your pet’s death. We suggest you consider leaving any excess funds in the Pet Trust to any of the many excellent charities dealing with the care of animals. One organization that Dennis and his family have personally visited and were very impressed with is Best Friends Animal Society, located at 5001 Angel Canyon Road, Kanab, Utah 84741-5000. The phone for Best Friends is (435) 644-2001 or you can visit their website.