Pet Trusts Explained
When we prepare our estate in case of the event of our untimely death, you often take many things into consideration. Your children’s well-being, the division of your property and inheritance, and even avoiding taxes are all things commonly considered during estate planning. One aspect that is often forgotten or ignored is the welfare of your furry companions.
Here at the Alder Law Group, we understand the bond you can develop with a pet. They are as much part of your family as your children. We can help you prepare an arrangement for your pet if you should pass away. Before you give us a call, let our knowledgeable staff fill you in on the details of pet trusts and how they can help you plan your estate.
What are Pets Trusts?
When planning their estates, many people focus their attention on drafting a will. While effective, wills are prone to a number of downfalls. Probate, for example, is required with a will. This tests the validity of the will and can often become contentious. To avoid these issues, and many others, a trust is a sound alternative.
If you are looking to protect your pet once you have passed away, a pet trust can help you do so. Under Utah law, you can draft a trust to provide for your pets and other domestic animals. Some of the animals that can be covered and protected with a pet trust in Utah are:
- Other domestic animals
Even if your pets are named in your will, if it is deemed invalid by the probate court, your pets could end up at a local animal shelter. In short, a pet trust is the only true way to secure your pet’s future without concern.
When drafting a pet trust, there are many aspects you need to consider. For example, if you are incapacitated, not dead, are your pets still protected by your trust? Additionally, are there any special considerations your pets require? Medications, boarding opportunities, and much more should be looked at before making your final decision.
With a pet trust, not only are you able to set aside funds for your pets, but you can specify how those funds should be spent. Food, medical needs, and boarding type should be examined thoroughly. Also, you have the ability to specify where the remaining money will go once your pets have passed on. You can even name a charitable foundation as the beneficiary once you and your pets have passed away.
Salt Lake City Pet Trusts
We understand the love you have for your pets. Here at the Alder Law group, we strive to provide our clients with every legal option they desire. Protect your pet’s futures today with a Utah pet trust. You can contact us at 801.463.2600.