Pet Trust Template With Calculator
Description
How to fill out Bequest In Trust For The Care And Maintenance Of Pet (Long Form)?
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FAQ
Determine the amount of funds needed to adequately cover the expenses of administering the pet trust; Designate a remainder beneficiary in the event the funds in the pet trust are not exhausted; Provide instructions for the final disposition of your pet (for example, burial or cremation).
While you may consider your pet part of the family, you unfortunately can't name your pet as a life insurance beneficiary. You can, however, make sure your furry friend is taken care of if anything were to happen to you.
But in the eyes of the law, pets are considered property, and you can't use your will to leave them an inheritance. However, you can still provide for your pets' care when you make a will by naming a ?pet guardian,? a.k.a. a beneficiary for your pet.
Ing to the law, pets are considered property and part of your estate, so you cannot legally leave money or any assets to a pet in your Last Will and Testament. Basically, property cannot inherit property.
With a traditional pet trust you leave your pet to someone in your will, just like with an honorary pet trust. However, there are no conditional bequests involved. Instead the trust has a trustee who regularly dispenses funds as necessary to care for the pet and meet the trust's instructions.