Types of Trusts for Your Pets
As you are making your Will or Living Trusts you think of all your loved ones that should be included but often overlook one very important family member—your pets. Did you know you can have Pet Trusts? Pets provide friendship, loyalty and comfort, but are also dependent on us to take care of them. Just as you would plan for children in the event of death or disability, you can plan for the care of dogs, cats, and other pets during your estate planning process. In your estate plan, you can create a trusts for your pet that covers the cost of their care such as their food, veterinary care and grooming. It is important when creating such a trust that you hire a professional attorney. It is easy to make mistakes when attempting to use a do-it-yourself site and a D-I-Y trusts may not be enforceable. A trust should designate a beneficiary who will be responsible for your pet and can enforce the terms of the trust. The trust also needs to include a provision that states what will happen to the remaining assets once the pet passes away. Testamentary Pet Trusts In Texas, pet owners may create
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