How can I ensure my pet is taken care of after my death?

Florida statutes allow for the creation of pet trusts which can be used to designate who will take care of your pet and leave funds necessary to do so.  The trust would appoint a care-taker and a trustee who would observe the care-taker to make sure they are following your instructions and caring for your pet as you specify.  A trust protector can also be appointed to ensure the funds in the pet trust are being spent appropriately by the care-taker.  The care-taker can be given specific instructions through the trust on how they should care for the pet on a day to day basis and how they should respond to unexpected illness of the pet.

Under Internal Revenue Code, the income of a pet trust is taxable.  The trust would be active during the entire lifespan of your pet and after the death of your pet any remaining funds would be distributed to other beneficiaries as you specify.  If you have further questions or would like to set up a pet trust, contact us at (941) 906-1231 to discuss the use of a pet trust as part of your estate planning.