Most people are aware of Wills and are at least somewhat familiar with how they generally work to ensure that your spouse, children, or whoever else you care about is provided for when you pass away. Fewer people are aware of how Trusts work in a more comprehensive capacity and the benefits they offer beyond what a Will can provide. One primary benefit of a Trust is the ability to control not just who your money goes to, but also how it is distributed to them and how it can be spent. This can be particularly beneficial to those with children who are either too young to be trusted with a large amount of money or older children with a track record of financial irresponsibility. But what about those who want to ensure their animal family members are cared for after they’re gone?
While the concept of Trusts has gained more widespread familiarity among the general public over the years, many people are unaware of the ability to create a Trust for their companion animal. “Pet Trusts,” as they’re commonly referred to, were established in Ohio’s Trust Code makeover in 2007. Simply put, it allows you to assign a caretaker and Trustee to carry out your instructions for the care of your companion animal after you pass away. These instructions can cover a multitude of details with few limitations. You can direct matters such as food and diet instructions, which veterinarian to take your companion animal to, insurance requirements, final burial or cremation instructions, and even how the Trustee is to monitor the caregiver’s services. Ideally, you should have persons that you trust serve as the caretaker and the Trustee and discuss the desired roles with them ahead of time. If they agree to either of the roles, that person will be subject to the requirements for carrying out the instructions in your Trust. Keep in mind, however, there is no requirement for them to accept serving in those roles simply because you appointed them.
This can be an intimidating part of the process. It may be difficult for some people to think of even one person, let alone two, whom they would trust in these roles. It is important to note that you can have the same person serve as both caretaker and Trustee. If you only have one person you trust enough with your companion animal, this may be appropriate. The downside to this arrangement is that there are no checks and balances in place. The purpose of the Trustee is generally to monitor the caretaker and ensure that they are caring for the animal in the ways that you instructed. If you have complete trust in your caretaker, then a separate Trustee may not be necessary for you. If you want a little extra security for your wishes, however, then considering a different person for each role may be a better option.
A third layer of protection that the Pet Trust statute provides lies outside of your appointees altogether. What if you do decide to appoint the same person as caretaker and Trustee, and that person isn’t providing for your animal companion in the way you instructed? Or perhaps you appointed two different people for the roles, but neither of them is honoring your wishes. The Pet Trust statute allows any person “having an interest in the welfare” of your companion animal to request the court to enforce the Trust or to remove a person appointed from their role. If this statutory safeguard is something you think could potentially be necessary, you may want to let other family or friends know about the Trust, even if they aren’t going to be directly involved, so that they are aware they may have the option to utilize it.
There are other alternatives for making sure your companion animal is cared for besides a Trust. You can leave a companion animal to someone via a Will, or just leave that person money for the purpose of taking care of your companion animal. You can even have an informal arrangement, and maybe that person doesn’t need or want money for taking care of your companion animal. The main factor to consider is how much control you want over the situation after you’re gone. Of course, other factors, such as financial means and personal circumstances, are also vital. It is important to note that the more control you want, the more money you may need to provide the caretaker. You can’t say “give Balboa the best food and the finest care” without providing the funds for those things. It may be easy to get carried away with the things we want for our animal family members, but you should keep the realistic perspective that the caretaker will only be able to provide the lifestyle and type of care that the trust can financially support.
While setting up a Pet Trust involves important decisions, the attorneys at Cavitch can help you organize your thoughts and translate your specific wishes into a legally binding document. Planning for your beloved companion animal’s future care might seem overwhelming, but the attorneys at Cavitch are here to make the process simple and straightforward for you. Contact us today to get started.