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Setting up a trust for a beloved pet

On Behalf of | May 25, 2022 | Wills And Trusts |

Your cockatoo has been your constant companion since you adopted him as a baby. At the time, you were 42 years old. A cockatoo can live anywhere from 40-70 years when given the proper care. When you think about the fact that your cockatoo will probably outlive you, the thought concerns you. Who will care for your beloved pet bird when you are gone?

Pet owners often worry about these things. The good news is that, with a little help, you can set up a trust fund for the care and keeping of your pet that would go into effect if you are hospitalized long term, must move into a nursing home or pass away.

Steps to setting up your pet’s trust fund

The first thing that you need to do is establish a caretaker for your pet. This person would be named the beneficiary and would be responsible for the continued care and feeding of your cockatoo or pet. 

Before naming this beneficiary, talk with them. Do they have the same kind of love for your cockatoo as you do? It’s important that this person will take loving care of your bird in the manner that you would prefer.

Next, choose a trustee. This person will be responsible for overseeing the financial aspects of caring for your pet. They will make sure that the beneficiary has the necessary funds for food, vet visits, and any other needs that come with your pet.

Finally, spell out everything in your trust. Make sure to detail food preferences, medications, special issues, and any other matters as they pertain to your pet.

When you are ready to set up your pet’s trust fund, contact an experienced legal guide to assist you with the process.