Did you know that Sunday, September 8th is National Hug Your Hound Day? It’s a great way to celebrate the special bond we have with our furry friends. Our pets bring us so much joy and unconditional love, and they truly are beloved family members. But have you thought about what would happen to them if something were to happen to you?
National Hug Your Hound Day is a perfect reminder to plan ahead with a pet trust. Setting up a pet trust ensures that your cherished hound will continue to receive the care and attention they deserve, no matter what. By including a pet trust in your estate planning, you not only safeguard your pet’s future but also enjoy peace of mind knowing they’ll be well cared for. Here’s a breakdown of how it works:
- Establishment: You create a pet trust by including it in your will or as a separate legal document. This document outlines how you want your pet to be cared for and who will be responsible for their care.
- Trustee: You appoint a trustee, who is responsible for managing the funds allocated for your pet’s care. This person ensures that the money is used according to your instructions and oversees the care of your pet.
- Care Instructions: The trust specifies detailed instructions for your pet’s care, including their daily routine, dietary needs, medical care, and any other preferences you have.
- Funding: You fund the trust with assets or money. This fund is used to cover your pet’s expenses, such as food, veterinary care, grooming, and other needs.
- Beneficiary: The pet is the beneficiary of the trust, meaning they receive the benefits and care provided for under the trust’s terms.
- Alternate Provisions: The trust can include provisions for what happens if the primary caregiver is unable to fulfill their role, ensuring that your pet’s care remains uninterrupted.
- Enforcement: The trust is legally enforceable, so the trustee has a fiduciary duty to manage the trust funds responsibly and in the best interest of your pet.
To make sure your pet trust is established correctly and fulfills all legal requirements, let Roth Elder Law assist you. We can guide you through the complexities of setting up a pet trust, ensuring your wishes are clearly documented and legally enforceable. Contact us today to discuss how to incorporate a pet trust into your estate plan, providing lasting security for your beloved hound. Call us at 607-962-6162 or complete our intake form , and we’ll reach out to schedule a consultation.