Pet plan for life
Planning for your pet’s future with a pet trust
For many of us, pets are family. They bring comfort, companionship, and joy to our lives, and we want to make sure they continue receiving loving, dependable care—even if illness, injury, or death prevents us from caring for them ourselves.
Creating a pet trust is one way to provide that peace of mind. A pet trust allows you to set aside funds, name a caregiver, and leave clear instructions for your pet’s ongoing care. The following overview can help you decide whether a pet trust may be right for you and your companion animals.
What is a pet trust?
A pet trust is a legal arrangement created to provide for the care of one or more companion animals if their owner becomes incapacitated or dies.
The person who creates the trust is known as the grantor. Depending on how the trust is structured, it may take effect during the grantor’s lifetime or after their death. A designated trustee manages the funds placed in the trust and distributes them to the person selected to care for the pet.
Pet trusts are legally recognized in all 50 states, although requirements and restrictions vary.
Under Colorado law, a trust may be created for the care of specifically designated domestic or companion animals, including offspring already in gestation. Unless the trust document states otherwise, the trust ends when no living animal remains covered by it.
Why consider a pet trust?
A pet trust provides more than a general request that someone care for your pet. Because it is a legally enforceable arrangement, it can help ensure that your instructions are followed and that funds are available for your pet’s needs.
The trust can be as detailed as you choose. You may specify your pet’s preferred food, medications, exercise routine, grooming schedule, veterinary care, living arrangements, and other needs that contribute to their comfort and quality of life.
A trust that takes effect during your lifetime can also protect your pet if you become temporarily or permanently unable to provide care because of an illness, injury, disability, or other unexpected circumstance.
No one knows your pet’s personality, habits, and needs better than you do. A pet trust gives you the opportunity to document those details and select people you trust to provide the care your pet deserves.
Preparing your pet trust
When creating a pet trust, you will generally need to name a trustee and successor trustee, as well as a caregiver and successor caregiver. The trustee manages the trust funds, while the caregiver provides your pet’s daily care.
You should also be prepared to provide enough information to:
Clearly identify your pet through photographs, veterinary records, microchip information, DNA samples, or a description of the animals living with you when the trust takes effect.
Describe your pet’s current standard of living, daily routine, dietary needs, medical care, medications, exercise habits, and personal preferences.
State whether you would like the trustee or another designated person to conduct regular check-ins to help ensure your pet is receiving appropriate care.
Estimate the amount of money needed to cover food, veterinary care, medications, grooming, boarding, supplies, transportation, and other expenses throughout your pet’s expected lifetime.
Determine how funds should be distributed to the caregiver and how expenses related to administering the trust will be paid.
Name a remainder beneficiary to receive any money left in the trust after the trust ends.
Provide instructions for your pet’s final arrangements, including your wishes regarding burial, cremation, or memorial care.
Give yourself—and your pet—peace of mind
Planning for a time when you may no longer be able to care for your pet can be emotional, but it is also a meaningful act of love. A thoughtfully prepared pet trust can provide stability for your pet, guidance for their future caregiver, and reassurance that your companion will continue to be protected.
Because trust and estate laws can vary, speak with a qualified estate-planning attorney to make sure your pet trust reflects your wishes and complies with current Colorado law.