Pet Trusts: Caring for your Pets After You Pass

Pet trusts have become increasingly important as more and more people consider pets as part of their family. Read on to learn about the growing popularity of pet trusts and how to include your furry friends in your estate plans.

Pet Trusts on the Rise

As people are less likely to have children, pets are gradually getting more roles in people’s lives. The Pew Research Center poll in February 2024 reported that 30% of people in the 18-34 year old age group without children, are not sure if they want to have children and 18% said they do not want to have any. Furthermore, 78% of the surveyed pet owners got their pet during the pandemic.

Pets are our friends, they protect us, they are our support system and therefore play an important role in our lives. In fact, 97% of pet owners consider their pets to be a part of their family. So, what is a pet trust, by the way?

A pet trust is a legal vehicle which is used to ensure that your pets are well taken care of in the event of your death or incapacitation. It defines the share of the funds that will be spent for the pet’s needs and who will take care of the pet.

How to Design a Pet Trust

The first step in the creation of a pet trust is to seek the advice of an estate planning attorney who will assist in the preparation of the pet trust, suggest the right amount of your funds that should be used for your pet’s care, and recommend a trustee or guardian for your pet.

It is worth highlighting that with the help of a professional, you will avoid common mistakes when preparing your estate planning documents (including your pet trust).

When the pet trust has been established and signed, it has to be preserved together with your estate planning documents. The pet trust can have certain provisions on what kind of food and what veterinary care your pet requires.

Do Something for Your Pet’s Sake

Including a pet trust in your estate planning is a considerate way of ensuring that your best friends are well taken care of even when you can’t. This way, you can be sure that your pets’ needs will be met and that they will be loved and looked after as they should be.

Contact Kevin L. Miller, PC. Oklahoma attorney Kevin L. Miller, PC practices in area of practice of estate planning, trusts, wills and many others. He has more than 35 years of practice and assists both individuals and families of all kinds.

He says, “To me, estate planning is not only about property and funds. It is about planning, providing, and taking care of you and your loved ones in the present and future.”

There is no way to know what the future holds, but establishing a pet trust will help you have peace of mind knowing that your pets will be taken care of and will remain a part of your family.

Schedule a meeting with Kevin L. Miller, PC. Call (405) 443-5100 to get started.