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How do I create a pet trust?

On Behalf of | Aug 25, 2021 | Trusts, Trusts

If it is possible your pet could outlive you, then you should make a plan for it. Many animals end up in shelters each year because their owners died and did not plan ahead.

The General Court of the Commonwealth of Massachusetts explains the state does allow you to create a pet trust. The trust will provide for your pet after your death. You can make the trust so that your pet has a proper guardian and will have the financial support it needs for adequate care. The state does have some rules for pet trusts.

Must be a current pet

The trust you create must be for an animal alive during your lifetime. In other words, you cannot make a trust for animals not yet born when you die. In addition, the trust will only last the lifetime of the animal for which you created the trust. Once the animal dies, the trust ends.

Should be reasonable

You cannot go crazy with a pet trust because the court can reduce the property held in the trust if the judge feels it exceeds the needs of the animal. The judge will look at the care costs of the animal and ensure the trust does not exceed that by an exceptional amount.

Should not allow trustee abuse

Your trust must provide trustee fees, but understand the trustee cannot take property from the trust for personal use. The trust assets are there only for the care of the animal and not the personal gain of the trustee.

When creating your pet trust, make sure that you will follow the law and ensure it will follow the guidelines.

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