For many people, pets are an important part of the family. According to the American Pet Products Association, 95 million U.S. households own at least one pet, and dog ownership has grown to 53 percent of U.S. households, or approximately 71 million households.
We love our pets, and they provide us with plenty of love in return. Unfortunately, pets can face an uncertain future when their owners pass away or become unable to care for them without making arrangements in advance.
At Duncan Legal, PC, we help individuals and families consider all the people and animals who depend on them as part of the estate planning process.
How Can a Pet Trust Help?
How can you be sure your beloved animal companion will receive proper care when you are no longer able to provide it yourself?
A pet trust may be an option.
A properly designed pet trust can provide a structured way to set aside and manage financial assets for the benefit of pets who survive you.
The appropriate amount of money to fund the trust will depend on your pet’s age, health, expected lifespan, and individual needs. Expenses to consider may include:
- Food and everyday supplies
- Veterinary care and medications
- Grooming
- Boarding or pet-sitting
- Training
- Special medical or dietary needs
- End-of-life care
Thinking through these expenses can help you determine what resources may be appropriate for your pet’s continued care.
Choosing Someone to Care for Your Pet
With a properly designed pet trust, you can also identify the person you would like to care for your pet.
This is an important decision. Do not simply assume that a family member or friend will be willing or able to take on the responsibility. Talk with the person you are considering ahead of time and make sure they understand your wishes.
It may also be helpful to name one or more alternate caretakers in case your first choice is unable or unwilling to serve when the time comes.
Leave Instructions for Your Pet’s Care
Money is only one part of planning for a pet.
Your estate plan can also provide detailed information about how you would like your companion to be cared for. Depending on your pet, those instructions might address:
- Favorite foods and treats
- Feeding schedules
- Medications
- Veterinarian information
- Exercise routines
- Favorite toys and activities
- Grooming preferences
- Sleeping arrangements
- Behavioral considerations
- People or other animals your pet is accustomed to
These details may seem small, but they can help provide continuity and comfort for an animal adjusting to a major change.
Include Your Pet in Your Estate Planning
Your estate plan is about protecting the people, property, and responsibilities that matter to you. For many families, that includes making sure a beloved pet will continue to receive appropriate care.
Call (303) 394-2358 or visit www.duncanlegal.com to schedule a consultation. At Duncan Legal, PC, we can help you explore how a pet trust may fit into your overall estate plan and create instructions that reflect your wishes for your animal companion. Taking the time to plan today can help provide greater certainty about who will care for your pet, how that care will be funded, and what you want their life to look like when you are no longer able to provide that care yourself.
Duncan Legal, PC
6436 S. Racine Circle, Suite 227
Centennial, CO 80111
