Why You Should Set Up A Pet Trust To Look After Your Pet Once You're Gone

Many people consider their pet to be a key member of the family, and they will want to do whatever they can to look after it. In turn, the pet is, of course, fully reliant on its owner, and problems could arise if something were to happen to its keeper. This is why an increasing number of forward-thinking pet owners are taking steps to provide for the animal in the event of their unfortunate demise. If you're in this position and haven't thought about what should happen should you pass away suddenly, perhaps you should look into forming a pet trust. What exactly is this?

Anticipating Problems

It's unfortunate, but some pets will undoubtedly outlive their owner in the event of a sudden fatal illness or a serious accident. If no provisions have been made for the care of the animal in such an unfortunate situation, then it may end up in the local pound or need to be euthanised.

It's simply not enough to expect those who may be left behind to take responsibility for the animal. They may not be pet lovers, may not be able to afford the cost or may simply reject the inconvenience. Some animals may be quite difficult to look after anyway, especially if they are on the large side or are exotic.

Some people may choose to give instructions within their will, but this may not be enough on its own. In any case, it is very important to talk with somebody before expecting them to take on the challenge, because if they don't find out until the will is read, they may simply refuse to do so.

To approach this from a more formal perspective, a pet trust should be considered. This may be especially important for those exotic pets that need special care, an expensive diet or other things.

Establishing the Trust

When setting up a trust like this, make sure that you discuss the implications with anybody who may be involved in future care. You should also choose an independent trustee who can administer the trust once you have gone and who can liaise with the caregiver as needed.

Make sure you calculate the possible costs carefully and take into account how long the pet may live. Remember, some exotic animals can last for 70 or 80 years, and the care costs could be significant.

Finally, include some instructions that tell the trustee where to send the balance of the money should the pet itself die. You may choose an animal charity to benefit from the cash.

Taking Action

Don't put this off any longer if you truly care for your pet. Talk with a pet lawyer for further advice and to learn more about pet laws.

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