How can I provide for my pet after my death?

In Virginia, you can create a trust for the continued care, maintenance, and financial support of your pet upon your death.  Although your pet is a cherished member of your family, under Virginia law they are considered personal property, like jewelry or furniture, and your pet cannot inherit from you directly.  However, a pet trust can receive and hold assets at your death for the exclusive benefit of your pet.

What is a pet trust?
A pet trust is a legally binding agreement that transfers legal ownership of your pet to a caregiver and sets aside money with specific instructions for the care of your pet when you die.  A pet trust can be created for multiple pets, but it can only be created for pets that are alive during your lifetime.  Upon the death of your pet, or if you created the trust to care for more than one pet, when your last pet dies, the trust will terminate.

What information do I need to create a pet trust?
A pet trust should include the following:

• Information that clearly identifies your pet, such as a physical description, photos, a microchip number, or a DNA report.  
• The name of the caregiver for your pet.  The caregiver will take possession of your pet at your death and is responsible for the day-to-day care of your pet.  
• The name of the trustee of the trust (the caregiver and the trustee can be the same person).  The trustee is responsible for managing the trust's assets and dispersing funds for your pet's care.
• How much money you want transferred to the trust at your death.
• How the money in the trust can be used for your pet's continued needs, such as food, grooming, and veterinary care.
• Detailed instructions outlining your pet’s dietary preferences, any allergies, their specific medical needs, including any medications, and their daily routine.
• Instructions for the burial, cremation, or other post death expendituresof your pet.
• The name of the person or charity who receives any funds left over in the trust after your pet passes away .

 

How much money should be transferred to the trust at your death?

It is up to you, but keep in mind your pet's projected life expectancy.  It may be helpful to compile a list of your pet's annual expenses to calculate future costs, while also estimating additional medical costs as they age.

    

Can a pet trust be created for any kind of animal?

Virginia law broadly defines trusts for the care of an “animal”, and horses, pigs, goats, sheep, turtles, and lizards can be named as beneficiaries alongside more traditional companion animals like dogs and cats.  However, a trust cannot be created for animals that are illegal to own in Virginia.

 

How can I get a pet trust?

To obtain a pet trust, or other estate planning documents, please contact Berdan Law today for a free consultation.  Working with an experienced attorney ensures your estate plan is tailored to your specific needs and accomplishes your goals, including peace of mind that your pet is well taken care of after you are gone.