HAVE YOU MADE FOR YOUR DOG?
YOUR HORSE?
If life redirected you toward
unexpected cause to leave your dog,or horse,
what would happen to them?
A PET TRUST
is the answer!
A Pet Trust involves all types of pets. Establishing a pet trust will be appropriate for pets whose life expectancies are long, such as horses, parrots and other exotic birds. There are birds that can live for over 80 to 100 years, outliving their owners in many cases. Hence to set-up a Pet Trust for these pets is a conscientious effort for the pet owner. Why worry, who will care for your pet after unexpectedly leaving?
A Pet Trust plan will ensure the care you want your pet to have. Most importantly the assurance of keeping your pet out of animal shelters that euthanize after a certain time period.
Under a Pet Trust, designate to receive your pet and a separate person as the Trustee, and successors, to handle only the money. You would want pet care conditions, so the person does not take your pet and then euthanize it. For safety purposes you may want to have a separate person who receives your pet, from the person handling the money (the Trustee).
Usually monthly and annual expenses, plus emergency veterinary care would be suggested. Often too much money in a trust, will cause the excess upon termination of the pet trust revert back to the maker's estate. So, a good idea to designate an alternate recipient of any excess funds.
Simply A Pet Trust Involve 4 Parties
Pet
Trustee
Caretaker
Successor
PET: Have a trusted friend or family member who know
your pet better than any outsider, whenever
money is involved.
your pet better than any outsider, whenever
money is involved.
Trustee: An individual, corporate fiduciary or both.
Caretaker: An individual, corporate fiduciary or both.
Successor: In case Trustee and Caretaker unwilling or
unable to serve.
Other areas of concern are, having a
Remaining Beneficiary, someone designated to inherit any remaining trust property upon the death of the last surviving pet beneficiary. Usually, the Remainder Beneficiary is a family member, friend or charity.
Remaining Beneficiary, someone designated to inherit any remaining trust property upon the death of the last surviving pet beneficiary. Usually, the Remainder Beneficiary is a family member, friend or charity.
Finally, the Property. The appropriate amount of property to fund your Pet Trust essential for its success. Once you know the likely remaing life expectancy of your pet, and the historical cost of care, simple multiplication is all that is needed to determine the amount of trust property required.
Final Thoughts
Your pet
If no future plan has been made
for care, then the care of your
pet is left up to chance!
A Pet Trust
for care, then the care of your
pet is left up to chance!
A Pet Trust
replaces this element of chance
with the requirements of law... providing you
peace of mind.
Maui's Caring Counselor at Law
to personally provide you
with the above services is
to personally provide you
with the above services is
Roya J. Deyhim.
Contact: 808 891-8881
Email: roya@est8planning.com
Roya Deyhim, has been a caring and approachable attorney on Maui for many years. She too with her husband James, a Cartoonist, have a family of three dogs and a cat they rescued and love. Boingo, Huli and Mookie are the dogs names and a fluffy cat. Her explicit attention will be personal and compassionate. A simple introductory
of a Pet Trust for you
will be confidentially cared for
by Roya Deyim.