Pet Trust

We love our pets and mot of the people consider them as a part of their families but have you ever stopped thinking that who will take care of your best friend after you're gone?
There is no one to take care of your pet's needs like you, but you have to give the control of your pet to someone who loves your pet and takes care of his needs and wants just like you. There is a proper and a legal way to do that.

What is a Pet Trust?

A pet trust is a legal arrangement which is used to provide the special care and protection to the pet in the event of the owner's death or disability. Trust laws will, power of attorney or estate laws and many attorneys who handles the trust laws also have the right to handle pet trust law issues. There are also many companies on the internet where the pettrust funds can be set up by the individuals.

How does the pet trust work?

To a trusted person or a bank, the pet owner sets aside money or property and also legally recommend as the trustee, and he is legally responsible in making a proper arrangement and care of your pet, and it is all according to your instructions. And the pet is delivered to the designated beneficiary from the designated trustee. In the home of new caregiver the trust will pay the money and the property which you have set aside for your pet's acceptance and maintenance.

The traditional trust and the statutory trust are the two main types of the trust. In comparison to the statutory trust, the traditional trust is most common you can create a traditional pet trust, even if your state doesn't have a pet trust statue. It is very simple to find the trust statues in your state you can easily find them on the internet.

The owner selects the trustee to help the person providing care for the animal in the traditional trust. He is liable to pay all the expenses, which are related to the pet. However, in the statutory trust doesn't require such a kind of decisions he just has to say that "I leave the 'amount x' in trust for the care of my (dog/cat/etc)".


Read more: http://articles.famouswhy.com/pet_trust/#ixzz14DOOs9Ly