Houston Veterinarian Clinic

Trust Funds for Pets

It is common for people to designate a certain amount of money in a will to go the care of a pet. However, there is no guarantee the money will be used as planned. Because of this, it is becoming increasingly popular for owners to establish trust funds for their pets. In doing so, a trustee can be appointed who will ensure the caretaker uses the money appropriately.

According to the editor of Lawyer’s Weekly, Paul Martinek, “The benefits of having a pet trust are simply the peace of mind of knowing that an animal that you care about is going to be cared for once you’re gone. That there’s money set aside…that you don’t have to rely on people to do what you’re hoping they’re going to do. You actually have set up a legal mechanism that will require people to do certain things.”

It will be necessary to have an attorney draft the document. The cost for this ranges from $500 to $1,500. There will also be annual administrative costs, as the trustee who will be monitoring the caretaker requires pay. Lastly, there will be the costs for actual animal care. For a healthy pet, a minimum of $500 a year should be allocated. The age and special needs of the animal should be taken into consideration when determining the actual amount.

A veterinarian can be a great resource in helping you determine the sum of money your pet will require for care in the future. Contact a Houston veterinarian clinic today for help estimating future costs.

Home | Contact Us | Resources | Link Exchange
Copyright ©2008 Houston Veterinarian Clinic

Search Engine Optimization provided by the Austin SEO firm The Search Engine Guys.