Our pets, whether they be dogs, cats, horses, birds, or others, may outlive us. For many of us, our household pets are a part of our families. The law, however, sees pets as personal property; personal property is usually distributed to beneficiaries through a will and the probate process. This can take time, and whoever inherits your pet may not have the resources to provide the level of care you wanted your pet to have. Although you cannot leave money to a pet in Texas, money can be set aside for the care of your pet.
One option to provide for the care of your pet is to leave money outright to the person you designate to receive ownership of your pet in your will. Another option is to set up a trust, funded to provide the financial resources needed for the daily and the long-term care of many pets. The trust can establish a care-taker for your pet and a trustee to help decide how money is spent. A pet trust also helps facilitate the prompt transition of your pet into a new permanent home.
McCreary Law Office can help you understand the issues to consider in funding a pet trust, such as the expected lifespan of your pets and any health concerns. In addition to daily costs of food and long-term veterinary costs, money can also be used to cover expenses such as boarding, grooming, and insurance. After your pet dies, any remaining funds can be directed to go to the person who cared for your pet, other beneficiaries, or to a charity.
If you would like to talk with Jana McCreary about a trust for your pet, contact the Houston office directly or complete the online form, and we can schedule an introductory call.
© 2020 McCreary Law Office, PLLC