When estate planning, you can stipulate who you want to receive your hard-earned assets after your death. In many families, pets are considered family members. However, despite you considering your pet like a child, you cannot name your pet as a beneficiary. That being said many pet owners wonder how they can ensure their pet is properly cared for after they’ve died. Keep reading to learn how you can make sure your pet is cared for after you die and discover how our adept Montgomery County Trust Attorney can help you create a pet trust.
How can I ensure my pet lives a good life after I die?
When estate planning, you cannot leave money or any kind of property to your pet. In Maryland, the law dictates that animals are considered property. Therefore, one piece of property cannot assume ownership of another piece of property. However, that does not mean there are no ways in which you can ensure your pet is properly cared for after your death. Despite not being able to leave money or property to your pet, you can use your will or living trust to leave money to a trusted caretaker that will use the funds to take care of the animal. One of the best ways to ensure your pet lives a good life after your death is by creating a pet trust.
If you create a pet trust, you can designate a trustee and appoint a pet caretaker that will be legally obligated to care for your pet and use the money in the trust to provide for their necessities. There are many advantages to creating a pet trust including the ability to leave clear instructions on how you want the caretaker to care for your animal companion. Similar to a living trust, a pet trust is a legally enforceable agreement. With this legal agreement, you’ll be able to rest assured that your pet will be taken care of by someone you trust and can rely on. Furthermore, if you do not create a pet trust, you will not be able to give detailed instructions on how you want your animal companion to be cared for.
If you want to ensure your beloved animal companion lives a good life and is properly cared for after you have died or become incapacitated, please don’t hesitate to contact one of our trusted and determined team members. Our firm is prepared to help you successfully navigate the estate planning process. Since pets are often considered family members, it is critical to take the necessary steps to protect them in the event you pass away. Allow our firm to help you create a pet trust today.