Did you know you can continue to provide for your animal friends even after you die? That’s right! Pet trusts are on the rise. With a pet trust, you can leave an inheritance for your beloved cat or dog. Even less-common pets like roosters and tortoises can be protected by trusts. Many pet owners have some kind of post-death financial arrangement for their pets.
Here are some fun examples of the care that animal owners have insured for their pet friends in recent years.
Clearly, these pets were near and dear to their owners. Though you might not have a hen who needs $15 million or a tortoise who wants to go to college, we know you still want to provide the best for your loved pets. You don’t have to go to extremes to take care of your furry—or feathery or scaly—friends.
Just like you would leave finances and property to family, your Will can specify who you leave your pets with when you’re gone. By choosing a trusted loved one as the pet’s new owner, you can be confident that your animal friend receives the love and care they deserve. And by establishing a trust, you can even name a trustee who is legally obligated to make payments to the caretaker for your pets with the money you leave. This means your animals would be provided for, following the exact stipulations you layout.
There are two ways you can make sure your pets are provided for after your passing:
Which of these options is the better fit for you and your furry animal friends? With LegalShield, you have the opportunity to obtain both! Here’s how it works.
LegalShield’s dedicated provider law firms will help you set up your Last Will and Testament. In this document, you can lay out exactly who you’d like to become the new owner of your animal friends, giving you the comfort of leaving your pets with someone you trust. If you want to go a step further, as a LegalShield Member, you can retain your provider law firm for a discounted hourly rate and establish your pet trust. This is where you name your beneficiary pets and give a specific person or party the responsibility to delegate your assets to your pets. In other words, you can decide who cares for your animal friends and what they do for them.
It's important to set up a proper trust to ensure your pet’s care is kept legal and above board. After all, your pet deserves the best of care and security. Some caretakers have been known to give the pet the cheapest care possible so they can hoard the finances. Others may secretly replace the pet after it dies, so they can keep receiving the money for its care. Luckily, caretakers designated in a trust are legally obligated to treat your pet according to your wishes. They will do what it takes to see that your furry friend receives the care you’ve stipulated.
Do you want your animal friend to be safe and secure after you’re gone? LegalShield can assist you with that. When you prepare your Will with a LegalShield Provider Law Firm, the experienced attorneys will help make sure everything is carried out how you want. If you are leaving a dog bed and Fido to your brother, our lawyers can see that your brother gets Fido and a dog bed. If you want to give your neighbor a monetary bequest in addition to Octavian the Cat, your provider law firm can also help make that happen.
What if your caretaker just ends up giving the pet to a shelter and using the money for his or her own selfish gains? LegalShield provider law firms will be on the side of you and your pet—not the side of who gets the most money. While preparing your pet trust with a LegalShield Provider Law Firm, you get to make the calls for how your animal friend receives care. As the settlor, you can name the pet or pets who are inheriting your possessions and finances. The trustee is the person responsible for overseeing the trust, and the caretaker is the main party who will care for the pet in your absence.
One of the best ways to ensure that your caretaker doesn’t sneak in a secret “replacement” pet is actually quite simple. Be very specific in your description of your pet. That way, the trustee can always know whether the pet is cared for. If the caretaker tries to do something that goes against your prescribed wishes for your friend, the trustee can put a stop to it.
Your Will is the most precious gift you can give your loved ones. And that should include your pets, so make sure to include your animal friends when preparing your Will. Taking care of your family, your possessions, and your pets are important. Would you like to start the process today?
Learn more about personal legal plan details from LegalShield to get accessible and affordable legal coverage, so you can begin preparing your Will. Ensure that your family—whether they walk on two legs or four—will receive the best of care for years to come.
A mistake in your Will could leave your loved ones facing legal issues during one of the hardest moments in their lives. We’ll explain how to update a Will, and why it’s best to do so with legal help.
Estate settlement involves managing a deceased person's finances. As the executor, you'll pay their legal debts and distribute their assets to the people they named.
Instead of going through court, your home can pass directly to the people you’ve chosen.
A Trust is like a bridge between a person and their estate. A Trust can make it easier for your family to manage your estate when the time comes.
A probate estate includes everything the deceased owned in their name alone without a named beneficiary. The cost of probate only applies to assets that require court supervision to transfer.
Deed transfer is an important part of the process, but it depends on the deed’s specifics. Let’s look at some ways property might transfer to help you understand what to expect.
