You'll provide for your children when you pass. What about your pets?

When a loved one dies, family and friends have numerous details to take care of, all while grieving their loss. To ensure your pets are not neglected in this tumult, you should consider creating a testamentary pet trust. In such a trust, the pet owner, called the testator, sets aside assets for the lifelong maintenance of her surviving pets, including funds for food and veterinary care. The testator designates a “trust protector,” who receives a set fee from the trust and is responsible for distributing trust funds for maintenance of the pets. The trust is a legally enforceable document in almost every state, including Connecticut and New York; Probate Courts in these states can remove the trust protector if she fails to fulfill her obligations and can order restitution for any misused trust funds. When the last surviving pet dies, the trust automatically terminates; any remaining assets are distributed as directed by the trust document or by the testator’s will.

So, how do you create a pet trust? The first step is to identify the person, bank, or other institution who you want to be the trust protector. You should consult this person or institution to see if it is willing and able to take on the trust responsibilities, which will include monitoring the trust and basic accounting of trust assets. Second, you must prepare and execute the actual trust document. In this document, you must clearly identify the trust protector, the pets you want to benefit from the trust; the standard of care you desire for the pets; and where you want the remainder of the trust funds to go after the last surviving pet passes away. You can either consult an attorney to write the trust or prepare it yourself using a template. Finally, you must fund the trust. You can do so through your will by directing that certain assets go to the pet fund. By following these simple steps, you can ensure that all of your loved ones are adequately cared for, even in your absence.