Planning for Your Pet’s Future: The Benefits of Pet Trusts
For many of us, pets are not just animals — they are family. Whether it’s the dog that greets you at the door, the cat curled up on the couch, or even a parrot with a sharp wit, our animal companions bring love and joy to our lives. But what happens to them if something happens to us?
That’s where a pet trust can make all the difference.
What Is a Pet Trust?
A pet trust is a legal arrangement that provides for the care and financial support of your pet if you become incapacitated or pass away. It allows you to set aside money and specify instructions for your pet’s future, giving you peace of mind and ensuring your companion doesn’t end up in a shelter — or worse. Many states, such as Maryland, have enacted specific statutes authorizing the creation of pet trusts to ensure the care of pets after an owner’s death or incapacity.
Why Not Just Leave My Pet to a Friend?
It’s a common solution to name a friend or family member in your will to take care of your pet. But there are three major drawbacks:
- A will doesn’t take effect until after probate, which can take weeks or months. Your pet could be left in limbo during that time.
- There’s no legal obligation for the person you name to actually keep or care for your pet as you intended.
- Pet trusts offer creditor and divorce protection. If you leave money to a friend and that friend has creditors or gets divorced, it is possible that the funds you have left to your friend to care for your pet could be taken by a creditor or an ex-spouse. A pet trust is a separate legal entity, and the funds in the pet trust would not be legally owned by your friend/pet caregiver. Therefore, the funds in the pet trust would be protected to help ensure that the funds are used for the care of your pet – and do not wind up in the hands of a creditor or ex-spouse.
A pet trust is enforceable by law. This means the person you appoint to care for your pet must follow your instructions and use the pet trust funds for the care of your pet; that person may not use these funds for his or her personal use. If the funds are used other than as directed, the caregiver can face legal consequences.
Key Benefits of a Pet Trust
- Ensures immediate and ongoing care. A pet trust takes effect immediately if you become unable to care for your pet due to illness, injury, or death. You can designate a caregiver, a backup caregiver, and even a trustee to manage the funds and make sure everything goes according to plan.
- Specifies detailed care instructions. You can outline exactly how your pet should be cared for — what kind of food they eat, how often they see the vet, daily routines, favorite toys, and more. This is especially important for pets with special needs or unique temperaments.
- Sets aside funds for your pet. Whether you have a senior cat that needs regular medication or a parrot that could live 50+ years, pets can be expensive. A trust allows you to earmark money specifically for your pet’s care, including food, grooming, vet visits, and emergencies.
- Avoid family conflicts. Sometimes, family members may disagree over who should care for your pet — or whether they should at all. A pet trust makes your wishes legally binding, reducing uncertainty and potential disputes.
- Protects long-lived or exotic animals. Pets like horses, birds, and turtles can live for decades. A trust ensures they are looked after for the rest of their natural life, no matter how long that may be.
Is a Pet Trust Expensive?
Not necessarily. While creating a trust involves legal paperwork and possibly an attorney’s fee, the cost is often less than you would expect — especially considering the long-term protection it offers your pet.
How to Set Up a Pet Trust
- Choose a caregiver you trust — and a backup.
- Pick a trustee to manage the money and ensure the caregiver follows your instructions.
- Estimate the cost of your pet’s care over their lifetime.
- Write specific care instructions, including health needs, routines, and preferences.
- Work with an estate planning attorney to draft the trust.
A Loving Legacy
No one wants to think about a future without their beloved pet, but planning ahead is an act of love. A pet trust ensures your furry (or feathered or scaly) friend is cared for the way you would want, by the people you trust, with the resources they need.
If you have any questions or would like assistance setting up a pet trust, please reach out to Todd J. Bornstein, Esq. at Selzer Gurvitch, 301-634-3104 or tbornstein@sgrwlaw.com. Todd has been practicing estate planning for twenty-five years and has set up pet trusts for many of his clients.