Why Pet Trusts Are a Great Idea for Pet Owners

Pet Trusts are becoming more popular, and it’s easy to see why. For many of us, our pets are more than just animals—they’re part of the family. In essence, we love them like we love our children, and they love us back unconditionally.

Equally important, your pet depends on you to keep them safe, happy, and healthy. A Pet Trust is a way to make sure they are cared for, even if something happens to you. In short, it’s a special plan that tells others how to take care of your pet so they can keep living the life they know and love.

In this blog, we’ll talk about why Pet Trusts are important, how they work, and how they can give you peace of mind. Likewise, a Pet Trust can make sure your furry friend is always surrounded by love and care, no matter what.

What is a Pet Trust?

A Pet Trust is a legal document that identifies your pets and outlines how each pet should be cared for. In other words, a well-designed Pet Trust is like an instruction manual for your pet’s care. With this in mind, Edwin D Marks Animal Foundation developed the Six Essential Components of Pet Trusts. (Details can be viewed here: Essential Components) Until now, very little information or guidance on how to prepare a Pet Trust has been available. The Six Essential Components now offer Attorneys and their clients the basic structure of what every Pet Trust should contain.

Following is a summary of each component:

Your Pet Trust Pets

Your Pet Trust needs to identify each pet you currently own that will be covered under this Trust. Describe the physical characteristics of each pet. Explain any special behaviors the pet exhibits. Be sure to include how your pet stands out from others of the same breed. Include microchip information and make sure the information is kept updated. As a result, the detailed description can stop the possibility of fraud. Your caregivers won’t be able to use your money to care for a substitute pet

The Pet Trust Care Team

If possible, designate people you want to care for your pets. Following our plan, name a Foster, Caretaker, and Trustee. We recommend three different people so a system of oversight is inherent in the design. Fosters provide short-term immediate care. In our setup, Fosters also oversee the Caretaker. They make unscheduled visits to the pet’s forever home to check your pet is cared for according to the Pet Trust.

The Caretaker acts as the pet parent but don’t own your pet. They agree to follow the directions in your Pet Trust. As a matter of fact, Caretakers open their homes and hearts to your pets to care for them as you would.

The Trustee manages your money to help ensure the funds are spent for your pet’s care. Equally important, Trustees also watch over the other Care Team members so that your pet is treated the way you intended.

Invite Your Veterinarian to Join the Care Team

Your pet’s Veterinarian is not automatically part of your Pet Trust Care Team. However, your vet is actively involved in your pet’s life. They are most familiar with your pet’s appearance and medical issues. Therefore, your vet should be invited to join the Care Team. The vet can interact with the rest of the team and guide the decisions made.

At the very least, your Vet should be made aware of your Pet Trust and the health care decisions you have made. Correspondingly, they will support the other team members, guiding their choices to meet your pet’s needs. The veterinarian also adds another level of oversight to protect your pet’s safety and well-being.

Your Individualized Pet Trust Care Plan

The Care Plan is the instruction manual for your pet’s care. It covers what is needed for day-to-day living, so your pet will be surrounded by familiarity. Over time, you have learned what your pet likes and dislikes. Consequently, this information guides your written plans so future Caretakers know how to care for your pets.

Areas included in the Care Plan:

Pet Trusts Should Include Products Used

Throughout each day, your pet is exposed to many different products. There are toys and treats. Your pet might get vitamins or allergy medication. Perhaps, a calming agent is needed during a thunderstorm. Once a month, you use special shampoo when your pet is bathed. Your Care Plan Should include a list of all the products used in your pet’s care.

Describe Your Pet’s Diet in Your Pet Trust

What you feed your pet is extremely important. Is specialized food purchased online? Do you cook for your pets? Does your pet only eat dry food? Is it organic? This section should detail the foods your pets eat and how it is prepared. Future Caretakers need to know what your pet eats and how it is served.

Include Routines in Your Pet Trust

You and your pet might engage in certain activities on a set schedule. These are usually your routines. For example, breakfast might be at a certain time followed by a walk around the lake. Maybe you go to the dog park every Sunday afternoon. Before dinner each day, you take a nap with your cat on the living room couch. In particular, regularly repeated activities should be described in your pet’s Care Plan.

Services Provided

Taking care of your pets involves other people. Your veterinarian provides medical services. You might take your dog to the groomer. Perhaps your cat needs allergy shots. Your pets might have a monthly spa day with a massage. As illustrated, anyone who helps care for your pet provides a service. Include a list of these service providers in your Pet Trust with complete contact information.

Medical History

Knowing the background of your pet is extremely important. Include any significant events that may have affected your pet’s well-being or personality. Describe events that impacted your pet’s medical history. List all medications used. Note whether they are over the counter or prescription. Finally, include the prescribing veterinarian’s contact info so that future caretakers can follow up.

Budgeting

Contrary to popular belief, you don’t have to be rich to prepare a Pet Trust. However, you do need to have financial stability. Future earnings should also be considered. Preparing a budget to determine your spending on pet care is recommended. Remember to include pet-related services such as a house cleaning company. If your pet sheds a lot, you might hire them to help you keep up with vacuuming your furniture and floors. It becomes a pet expense because they help you to clean up after your pet. Additionally, you need to add extra money or a “buffer” amount. This will help to cover any possible medical emergencies or litigation that arise.

Funding

Once you have determined how much money is spent on pet care, you must fund your Pet Trust. Funding does not have to be in full when you prepare the Pet Trust. It is advised that the Trust starts with one year’s funding. Then, you can add money in increments. Many people choose to fund the bulk upon their death. Accordingly, they arrange to sell off their assets or name the Pet Trust a Life Insurance policy beneficiary.

How Pet Trusts are Prepared

Elder or Estate Planning Attorneys usually prepare Pet Trusts. Although templates are available online, they are not recommended. Many attorneys also struggle with the Care Plan portion of the Pet Trust. They don’t like to spend time learning how many times a day you walk your dog or scoop the litterbox. As stated earlier, there has been very little information available on how to prepare a Pet Trust. As a result, Attorneys, who practice law, not pet care, would rather not spend time in this area.

Who Can Help Prepare My Pet’s Trust Care Plan?

Therefore, it is advised that you seek help elsewhere with your pet’s Care Plan. Edwin D Marks Animal Foundation (EDMAF) can guide you and your attorney. Better yet, work with us, at Guardian Pet Trust (GPT). We have a specialized process for preparing Pet Care Plans. Additionally, your attorney can then use the document that results as an exhibit in your Pet Trust.

Love Has No Boundaries

Pet Trusts enable your pets to be surrounded by familiar sights, sounds, and smells. People they know will remain in their life. The directions you leave will mimic the lifestyle they are accustomed to. Your pets will continue to feel your love, even in your absence, through your Pet Trust. Love has no boundaries. Your Pet Trust is an everlasting expression of your love.

Share Your Pet Trust Stories

If you have a Pet Trust or plan to prepare one, please share your thoughts with us. When we see other pet- passionate people love their pets as children and want to protect their future, we know we’re not alone. This support system may help save more lives of our pets at home and those who wind up in a shelter.

Remember, you can always contact us on social media, on our websites, or at 561-575-5788. Let’s start saving lives together, starting with your pets!