We often are heart broken when something happens to our pets, but what happens to our pets when we are no longer there?
Pets have become a staple to most American households, we consider them as one of our own, we love them, care for them and see them as our companions at any stage of our lives. Reality however is that many of these animals will outlive us, and if they do, who will care for them then? Have you ever wondered what would happen to your pet if you are gone? Without ongoing care, pets will perish!
It is therefore even more imperative you make a plan now while you can. Create a Pet Trust for your loved and cherished family member and make sure your pets will be taken care of and loved after you no longer can!
Why? Because under Texas law, your pet is a personal possession, which could be distributed or sold with all of your other things when you die, your pet might end up in a shelter, or even worse... To make sure this doesn't happen and that your wishes will be followed is by establishing a Pet Trust.
A Pet Trust is an established care and maintenance plan for one or more pets. It contains instructions for who should be in charge of your pet's needs; it has instructions on how to use some of your assets to provide for your pet, like food, grooming and veterinary care.
In short, a Pet Trust will provide for the health, maintenance, support, housing, and any other special instructions essential for the care of your beloved pet.
The most important reason to get a Pet Trust, or to do estate planning in general, is the peace of mind it provides. A Pet Trust is a binding document that requires someone, chosen by you, to care for your pet in a way specified by you so that your pet might live out its natural life the way you intended. If the appointed person doesn't follow your directions, they can be replaced by another person of your choice. This is a preventative measure to make sure that your pet's caretaker isn't using your assets in an inappropriate way or not giving your pet the proper attention or care.
The certainty a Pet Trust provides will guarantee that your animal is left in good hands in case your pet outlives you or you become incapacitated.
The funding of your Pet Trust can be in any amount. The amount is determined by you, and all assets remain in the Pet Trust as long as your pet is alive, after that, the remainder can be distributed to any person or charity of your choice.
Pet Trusts are the best way to plan for the future your pets. We encourage you to schedule a consultation with our attorney in order to discuss whether a Pet Trust would be appropriate for your family.
Truth is, time is of the essence. Pets depend upon their owner for daily care. A will must be probated before it becomes effective. The court may not formally recognize and put your plan into action for days or even weeks, assuming there are no legal disputes. The probate court usually takes a few weeks before an executor is appointed to handle the estate, sometimes it might take even longer.
A Trust will provide you with protection if you get ill or incapacitated. A will goes into effect only after you die, and only then after it is probated. A will is ineffective should you become ill or incapacitated. A trust allows you to set provisions that would empower the Trustee to use the funds that you had set aside for the pet's care even during any length of your disability.
A Pet Trust truly provides Peace of mind. You will know that someone is caring for your pet per your instructions. Your Trustee and the pet's caretaker are legally bound to follow-through with your wishes.
Call GP Schoemakers, PLLC today to find out how to set up a Pet Trust for your pet and/or animals today, or to find out how to set up an estate plan for your entire family.
You can contact us at 832.408.0505 or use our Contact Form.