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Protecting Your Pets: How to Make Financial Provisions in a Will or Trust

By Gerry W. Beyer

GarfieldIn our modern society pets are no longer simply considered an animal – they are members of a family, providing emotional support and comfort. Laws have not evolved to the point to see pets as not property, though, so certain steps but be taken to provide for your furry loved one after your passage.

Just as children with their growing list of sports, scholastic activities, and college tuition, pets can be quite expensive. According to a Harris Poll survey, Americans spend an average of nearly $1,500 on essentials such as food, grooming, boarding and trips to the veterinarian’s office for their pets each year. Horses are the most expensive at roughly $13,000 a year.

Here, National Head of Trusts and Estates, Gerry Joyce, answers commonly asked questions such as:

  • Should I Use a Will or a Trust to Protect My Pet after I’m Gone?
  • Could I Simply Leave Money to a Trustworthy Friend?
  • Why Is the Trust Document so Important?
  • How Long Can a Pet Trust Continue?
  • How Much Money Can I Leave to Care for My Pet?
  • What Are the Most Unusual Trust Provisions You Have Seen?

See Protecting Your Pets: How to Make Financial Provisions in a Will or Trust, Fiduciary Trust International, June 19, 2018.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.

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