Pet Trusts
“Dogs have given us their absolute all. We are the center of their universe. We are the focus of their love and faith and trust. They serve us in return for scraps. It is without a doubt the best deal man has ever made.” – Roger A. Caras
Many people have a special animal in their lives. Whether it is a dog, cat, bird, horse, or any other pet, these animals can hold a very precious place in our heart. Any animal lover can tell you that while the law views our pets as property, to many of us, they are family.
What would happen to your beloved animal companion if you were to become ill, incapacitated or pass away? They cannot fend for themselves and they depend on us for everything.
Oftentimes, a family member is able to step in and care for a pet if the need arises. Arrangements can be made in advance by simply having a conversation. However, this is not always the case. In situations that might require greater coordination and reassurances, there is a tool available that can give you peace of mind. With the use of a pet trust, you can be confident that a trusted caregiver is in place and that the necessary resources are available to care for Fifi or Fido.
What is a pet trust?
A pet trust is a legal arrangement that sets aside funds specifically for the care of one or more pets and it names individuals responsible for carrying out those instructions. It can operate either during your lifetime or after your death. A pet trust is legally enforceable. This helps ensure that your wishes are followed and that the resources intended for your pet’s care are used as planned.
What should be placed in a pet trust?
Diane Keaton died on October 11, 2025. The actress’s love of animals was well-documented and her last social media post was of her golden retriever, Reggie. After her death, online rumors claimed that she had left $5 million in a trust for her dog. This has not been confirmed by her family, and since one of the benefits of having a trust is that it does not go through probate, the information is not public.
A pet trust can be tailored to your pet’s needs and include specific instructions such as feeding routines, medications, grooming, and veterinary preferences. The trust can also designate a caregiver to look after the pet and a trustee to manage the funds.
While $5 million would be a generous amount to care for a dog’s needs, the fact is that animal care does cost money. Domestic pets like cats and dogs need food, housing, and regular veterinary care. Depending on the breed of animal, special needs they may have, and part of the country they live in, costs can easily be in the thousands per year. Providing care for larger animals like horses involves even greater expenses.
No matter the type of animal you have, it is important to estimate how much money your pet’s caregiver will need and ensure that they will have adequate funds to carry out your wishes.
How does a pet trust fit into your estate plan?
A pet trust can be coordinated with the rest of your estate plan, including wills, other trusts, and beneficiary designations. Your financial advisor can help you review these documents together to ensure that your beloved pet will be taken care of in a way that you are comfortable with.
Planning for the future care of your pet is an act of love and responsibility. A pet trust helps ensure that the animals who depend on you will continue to be cared for in the way you want, regardless of life’s uncertainties. Knowing what your options are and planning ahead given your circumstances helps to provide peace of mind that your loved ones, including your beloved pets, are cared for upon your demise. If you would like to learn more, please contact us.
