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Pet Trusts - Providing for Your Pets if they Outlive You
Many
of our clients have expressed an interest in assuring that their pets will be properly cared for if their pets outlive them.
These clients often wish to leave money in their revocable trusts or wills to a friend or family member along with
an instruction to care for their pet. However, there's no guarantee the money given to an individual in this manner will
actually be used to care for the pet.
Due to changes in the law it is now possible to set up a legal trust fund for
a pet. Generally, the pet owner will designate a caretaker and a trustee. The caretaker will care for the animal while the
trustee will provide money to the caretaker from the Pet Trust for expenses related to the pet (food, vet bills, etc.) and
will assure that the pet is being properly cared for by the caretaker.
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