At NC Pet Trust we take care of creating and funding your pet trust for you. As a pet owner, it is your responsibility to ensure your pet will be cared for if you pass away or become too ill to continue providing proper care. We want to avoid these sweet animals from ending up on the doorstep of a shelter.
Here are some tips to make sure everything is set up properly and works as it should:
Choose a trustee that is different from the person you choose as the caretaker. Why is this important? First, it provides a system of checks and balances. Second, it separates the money from the caregiving. The trustee writes the checks and the caregiver provides the care. You can compensate the caregiver but you do not want that individual to have too much control over the money because it may lend itself to poor decisions made on behalf of the pet.
Before naming your trustee and caregiver, check with these individuals to make sure they are willing to accept the role and the responsibilities that come with it.
Name successors for both the roles of trustee and caregiver.
Calculate the amount you fund the trust using a well-thought out strategy. We can help you make this determination. You do not want to overfund the pet trust and risk upsetting other beneficiaries and you do not want to underfund the pet trust and risk not having enough allocated for your pet's care.
Compensate the caregiver while the pet is alive and being cared for, but do not name the caregiver as the remainderman beneficiary of the pet trust. This may lead to the caregiver skimping on the pet's care or euthanizing earlier than needed in order to preserve trust assets for himself or herself.
Provide detailed instructions. At NC Pet Trust, we help you develop a detailed care plan that is incorporated into the trust terms so that the trustee and caregiver know exactly what is expected.
Ready to get started?
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