Let’s face it – those of us who have pets consider them to be members of the family. My wife and I refer to our daughter’s boxer, Rocky, as our Granddog. He brings the whole family great joy and companionship. It is inconceivable to us that our pet wouldn’t be taken care of after we’re gone. Yet, an estimated half million dogs and cats are euthanized each year after their owners pass away without making provisions for them. Have you considered taking care of your pet or pets in your estate planning?
Historically, there have been many ways to care for your pet after you become incapacitated or die. You could make informal, and unenforceable, financial arrangements for the care and support of your pet. You could ask a friend or family member to take care of your pet. You could enter into a lifetime care contract with a company that provides care for animals. These options are all still viable in the right circumstances. In recent years, some states have begun to allow pet owners to establish "pet trusts," which gives you the ability to include the care of your pet as part of your overall estate planning.
Pet Trusts
In 2009, Connecticut passed a law entitled “An Act Concerning the Creation of a Trust for the Care of an Animal” which became Connecticut General Statutes § 45a-489a. This law formally recognizes the creation of “Pet Trusts,” dedicated to the care of your pet. Prior to this law, Pet Trusts were neither recognized nor enforceable in Connecticut Courts.
Pet Trusts are designed to work just like any other trust, and in general, the same laws apply. They can be created during your life (inter vivos) or in your Will (testamentary). They must be for the benefit of pets that are alive at the time of the creation of the trust, and the trust will terminate after the death of its last beneficiary.
However, unlike other trusts, where the beneficiaries are people, the beneficiary of a Pet Trust is the pet. Because pets are considered animals, they cannot, themselves, exercise any of the rights that beneficiaries have under the law. Therefore, to assure that your wishes regarding the care of your pet, and other trust provisions are followed, the law requires the appointment of a Trust Protector.
A Trust Protector is a person designated to act on behalf of the beneficiaries of a trust (in this case, your pet), and to hold the Trustee’s feet to the fire when it comes to carrying out the terms of the trust. The Trustee is required to give the Trust Protector an annual accounting of the trust funds.
Although not required, many people appoint a separate caregiver for their pet who is not the Trustee or Trust Protector. This person actually takes care of your pet. In the absence of a separate caregiver, the Trustee could fill that role or appoint someone else.
Factors to Consider
In addition to drafting the Pet Trust to comply with the statute, your estate planning attorney can help you understand what other factors you will need to consider, such as:
- What pet or pets should be included as beneficiaries of your Pet Trust?
- What amount of money should you contribute to your Pet Trust?
- Who should be the Trustee?
- Who should be the Trust Protector?
- Should there be a separate caregiver for your pet, and if so, who?
- What specific or general guidance regarding the care of your pet would be helpful to the Trustee and caregiver?
- What should be done with your pet after your pet dies?
- Who should receive any remaining funds in your Pet Trust?
Don’t let your pet become a statistic. Contact an estate planning attorney to help you set up a Pet Trust as part of your overall estate plan.
