While many people in New Jersey anticipate that, however much loved, they will outlive their pets, the fact of the matter is that sometimes our pets outlive us. Pets are often beloved members of the family, so it only makes sense to make plans as to who will care for your pet if you die before your pet does.
One option pet owners might consider is a companion animal trust or “pet trust.” In a companion animal trust, a person can designate who will care for their pet if they die before the pet does. It can also contain instructions on how the pet should be cared for, as well as set aside money designated for the care of the pet. A trustee will be named to ensure that the funds allocated to the care of the pet are handled appropriately.
Of course, when executing a pet trust, it is important to ensure that the person you want to care for your pet is willing and able to do so. You will want to consider how much it costs to care for your pet. This includes the costs of food, grooming, veterinary care and more. In addition, when it comes to the care of your pet, you will want to be as detailed as possible regarding your pet’s dietary needs, medical needs, socialization needs and other care needs.
Whether you are a dog-lover, cat-lover or have any other beloved pet, it is important to take good care of your animal companion. This includes planning both for your future and your pet’s future. An animal companion trust can be one way to ensure your pet will be loved and cared for should you die before your pet does.