Leaving too little money for your pets may mean the money runs out while your pets are still alive, but leaving too much may also lead to a court invalidating your will. There are guidelines to follow to leave the right amount.
Pet Wills and Trusts - page 2Proper estate planning in the form of a will or a trust can help ensure that your pets, in the event of your death or incapacity, are quickly and safely moved to your chosen caregiver with adequate funds to support them.
If you don’t choose a pet guardian for your pet, and make this choice clear in your estate planning documents, the law could give your pet to someone you don’t want, or may go to a shelter to await a new owner.
Your trust can direct what should happen to the funds remaining in your pet trust when all of your pets pass away. There are some common options to choose from.
The person who manages your trust and the person who cares for your pets can be the same person, and there are some advantages and disadvantages that you should consider before making your decision.