Friday, May 8th, Attorney, Paula Mattson-Sarli talks about pets.
Pet trusts, pet provisions and what happens if you have a pet when you pass away.
You can have a trust setup that says the assets belong in the trust and upon death, those assets are to be used to care for the pets. The trustee would administer these assets. The trustee could also be the caretaker of these pets, but it could be a third party.
You can designate the funds in the trust however you would like.
There are also pet provisions so where you could make a specific bequest in your Will to designate funds and the care of a pet to a certain person. You can also designate if they need to go back to a rescue.
In certain circumstances, the ability to create a pet trust is made possible after death without wishes in writing. However, it is always best to get it in writing and prepare for your fur-babies.
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