Wednesday, November 26, 2014
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Is a Trust Fund Right For Your Pet?

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Sleuth the Reporter Dog, VNN Mascot 


We all hear about celebrities who leave millions of dollars to their dogs and cats, but most owners arenít that wealthy.  Sadly, many pets end up in shelters or with a new family where they may not adjust to the new surroundings.  Sleuth, the Reporter Dogís friends at the Veterinary News Network found some great ideas to help make sure your pet gets the care he or she needs, even if you canít provide that care.

1)    Pets who outlive their owners are often given to relatives who may not have the means or the desire to care for an animal.  Sadly, some pets even end up in local animal shelters or in foster homes.

2)    Leaving money in your will for a pet sounds like a good idea, but legal definitions actually prevent it.  In fact, in some famous celebrity cases, the amount of money left for pets has been decreased by court order.

3)    Thankfully, most states now recognize a personís intent to care for their pet and allow the creation of pet trusts.

4)    Pet trusts cannot only help insure the proper care for your pets in the event of your death, but also can provide assistance if you ever become disabled or incapacitated.

5)    Too many times when someone needs to enter an assisted care facility or a nursing home, their pets arenít permitted to stay.   Pet trusts can actually help facilitate keeping pet and owner together as the facility knows the needs of the pet will be met.

6)    Since the pet trust is administered by a trustee, the chances for fraud or unethical individuals taking advantage of money left for your pet are greatly reduced.

7)    Itís important to think about these issues prior to any illness or sudden incapacitation.  Planning for your petís future is an important part of responsible pet ownership.

8)    Legal matters like this should always be discussed with your attorney.

9)    Many veterinary hospitals and veterinarians may know of attorneys who specialize in pet trusts and local resources that can help pet owners plan for the future.

10)    Trust a site like MyVNN.com to provide you with accurate and unbiased pet health information.