Pets Trusts

They are our best friends, lifetime companions, and loved members of our families. They are our pets. Still, we struggle with their fate in the event of our death or incapacity. Those who do not own such pets often have a hard time understanding the pet-owner’s anxiety over the fate of their loved one if they should become incapacitated or die. Fortunately, the Florida legislature did understand, and Florida law now allows for the creation of a trust for the benefit of our beloved pets (Florida Statute 736.0408). These trusts can be funded during life or receive a portion of your estate at your death. In any event, the Pet Trust may be your animal’s best friend.

Don’t leave things to chance. Providing for your pet through a funded pet trust can save your pet from an uncertain fate during your incapacity or at your death. Some are lucky enough to have a family friend who can care for the pet, but often, without adequate pre-planning, the family friend declines to serve or inadequate provisions for the pet have been made.

A Pet Trust is an affordable, legally enforceable arrangement in which the pet owner can set aside money for the care of the pet; designate who is to be the pet’s caregiver; name successor caregivers in the event that the first caregiver can no longer care for the pet (or refuses to do so); provide compensation to the caregiver if desired; and provide directions as to the pet’s shelter and care. A Pet Trust can give you the piece of mind of knowing that your pet is going to be cared for and protected. The trust continues for the pet’s lifetime and can pay the remaining funds out to the beneficiaries of your choice.

If you have a beloved pet, consider incorporating a pet trust into your estate plan.
 

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