Pet Trust Template With Trust
Description
How to fill out Bequest In Trust For The Care And Maintenance Of Pet (Long Form)?
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FAQ
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.
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).
In California, a pet trust is primarily used to allocate funds and any wishes on behalf of a pet. This can be done in several different ways. A pet trust can be made through a will, as a part of a revocable living trust, or a stand-alone trust.
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.
In fact, more and more states are passing laws that allow pet owners to establish pet trusts. A pet trust allows you to control how your pet will be cared for in the event of your death. Setting up a pet trust allows you to leave money for your pet's care and even name a guardian for your pet.