Some states allow people to name a pet as a direct beneficiary of a trust. These laws also allow people to name someone who will enforce their wishes regarding their pet. The 2001 law is an expansion of the common law of trusts, which is still in effect and allows people to leave money to a trustee for the benefit of an individual person whose expenses of caring for the pet are reimbursed by the trustee. A pet trust may be included in a will, or in a separate living trust. Check with your attorney to see what is legal in your state.
Few people leave money for their pet's care
When leaving money, think about certain situations. Name someone who will enforce your wishes regarding pet care. This includes food, exercise, grooming, socialization and medical care is expected.
Also remember compensation for the caregiver, liability insurance and vet visits.
Specify what is to happen with the money that may be left over when the pet dies.
List one or two alternate caregivers in case the first person you designate is not able to carry out your wishes.
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