California Trusts For Your Pet
Pets are a source of great happiness and affection for many people. As such, it is only natural that pet owners would want to be certain that their beloved pets are provided for and fully protected in the event of their passing.
The Stevenson Law Office provides comprehensive estate planning services to clients throughout the greater Los Angeles area and San Fernando Valley. If you would like to learn more about how to provide for your pet after your passing, please contact our firm to arrange your consultation. We can be reached at 818-784-5404.
Estate Planning Options for Animal Lovers Are Limited
Under California law, all pets (including dogs, cats, birds, horses, etc.) are classified as personal property. This means you cannot leave them money or other property via a last will and testament. Any attempt to do so will not be honored by the probate court.
While you can always consider leaving your pet and some money for their care to a trusted loved one, there is no guarantee that they will honor your wishes. In fact, if your beneficiary chooses not to take care of your pet and/or uses the money for their own purposes, no legal action can be taken against them.
Pet Trusts: Granting You Much-Needed Peace of Mind
A pet trust is an extremely effective and legally recognized method of ensuring that your pet receives proper care after your passing. In essence, a pet trust sets aside money that may only be used to care for your pet. You will need to appoint a trustee, usually a family member or friend, to manage and administer the trust. You will also need to designate one or more pets as beneficiaries of the trust. Please note, the trustee will be required to perform some basic accounting, monitor the trust and make periodic reports to the court.
A properly executed pet trust can provide for the following:
- Shelter
- Food
- Veterinarian visits/medical costs
- All other costs
A pet trust is only valid for as long as your pet is alive. Thus, you will need to make provisions for what happens to the remaining trust funds once your pet passes away. It is very common for the trust creator (known as the trustor) to give the remaining assets to a favorite charity or to the trustee as a "thank you" for managing the trust.
Stevenson Law Office lawyers have solid backgrounds in estate planning, estate administration and probate law matters. We welcome you to call us at 818-784-5404 or e-mail us today.
