Let’s Talk Pet Trusts

Today, Friday, April 11th, is National Pet Day! 🐶🐱 Let’s talk about Pet Trusts and planning for your pet.

Pets enrich our lives in many ways, and we protect and care for them. But what happens if we become incapacitated or suddenly pass away? Will family or friends step in?

I frequently see heartbreaking posts from local pet rescues rehoming previously pampered dogs or cats whose owners have passed away. It makes me wonder if the deceased believed friends or family would step in and care for their pets.

This is where Pet Trusts can help! 🐾✨

Pet trusts empower you to designate a caregiver for your pets and allocate funds specifically for their care. The person caring for your pet can also manage the funds or you can assign a separate person to manage the funds and oversee care. This second option adds an extra layer of accountability and is your choice.

One of the most famous Pet Trusts was created by Leona Helmsley for her white Maltese named Trouble. Leona, known as the “Queen of Mean”, had a net worth of $5 billion at her peak. She left Trouble an astonishing $12 million in a Pet Trust, which was later challenged in court as excessive, and a lower amount of $2 million was awarded for Trouble’s care.

💡The takeaways from this story? Even the Queen of Mean loved her dog—likely more than she loved most people! More importantly, create a budget and aim for a reasonable amount to provide for the care and lifestyle your pet is accustomed to.

But you don’t have to be “The Queen of Mean” or even the Queen of a Million Dollars to have a Pet Trust. Anyone with even modest assets can create one.

🐾✨If you feel inspired to start a Pet Trust, but don’t know where to begin, I can help. As a mobile notary who regularly partners with estate planning professionals, I have resources to fit any budget and every situation.

I specialize in guiding people through the final step of getting their estate plan documents signed and delivered. I’m here to help make the process simple and secure for my attorney partners and signers alike.

Once you have your Pet Trust, the Legacy Vault's Pet Section is a great addition. And if funding a Pet Trust isn’t an option, the Legacy Vault as a stand-alone, helps document your wishes for your pets. Its designated section for pets walks you through all the details someone would need to care for them.

We partner with My Life & Wishes Legacy Vault providing you with the unique opportunity to secure this platform with a one-time payment instead of an ongoing subscription.

So, celebrate this National Pet Day with extra play time and extra treats! Then, take a moment to think about how you can plan to protect your pets, so they are loved and cared for, no matter what. 🐾💖