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Posted on January 12, 2022 in trust,trust funds
Do you have a plan for what happens to your pets once you pass away? There are options. Though you can’t leave money to a pet when you die you can care for your pet still. One way is to leave your pet to someone in your trust or will. You can choose the person and make sure that they will be willing and loving to your pet. This person would become the owner of your pet.
Another way is to create a pet trust for your animal. A pet trust is an estate planning tool that you can use to create a legal obligation to care for your pet. In the document you name the person who is to take care of your pet, you provide instructions for the care of the pet and money is left for that purpose. The trustee will get the money and the pet. The trustee will have to follow your instructions and use the money only for the care of your pet.
There are also organizations that provide homes for pets if you cannot find anyone willing or able to take care of your pet. These organizations ensure that pets have a loving home when their owners can no longer take care of them. Your pet is important and there are options for you to chose before you pass away.