Have you ever considered opening a pet trust to protect your pet and secure its future? If not, then this article might make you consider such a decision!
If you’re a pet owner, probably among your worst fear would be leaving behind your pet or not being able to care for them anymore. Being dependent creatures, they will need someone to take responsibility for them to ensure that they live happy and healthy life. Unfortunately, it’s careless to assume that a family member or friend would automatically step in to take on your role.
After all, every person and family has personal concerns and problems they are dealing with. That line of thinking is what makes many pets suffer in the end. As Peggy Hoyt, the founder of Animal Care Trust USA said,
“Approximately half a million loved pets are euthanized annually because their pet parents didn’t have a plan for what would happen.“
Pet Trust: How Important Is It?
For starters, what exactly is a pet trust? It is a legally sanctioned document and arrangement that provides care, protection, and maintenance for a person’s companion animal in the unfortunate event of a grantor’s death or disability.
“A trust is a bucket or box, if you will, that’s designed to hold assets with instructions for the benefit of your pet.”
With a pet trust, you can appoint someone to hold your assets and property to use and spend on your pet’s care and needs.
Being a Trust and Estate lawyer, Peggy Hoyt knew the ins and outs of estate and trust planning. She had helped and educated countless families in setting up and planning their trusts for a better future. Recently, she discovered her interest in pet trusts, as well.
It mostly started when Peggy was planning her book. She had trouble choosing a topic to focus on — until a friend suggested that she write about estate planning for pets. That is where it all began, as well as how Animal Care Trust USA was born.
“I do this on a professional level, but I was always trying to think of a way I could do this on a charitable level, as well.”
Protect Your Pet With The Help Of Animal Care Trust USA
Animal Care Trust USA is a non-profit organization that aims to keep pets in loving and caring homes. They help educate pet parents about the importance of pet trusts. Accordingly, they also help people create them by providing guidance and options for pet trust planning.
As Peggy said,
“I always encourage people to remember pets aren’t free.”
If one were to extrapolate the expenses and bills that go into caring for a pet, the amount would exceed thousands of dollars! Caring for a pet is certainly not cheap — the money that goes to their everyday food and occasional vet visits is enough to make a dent in some people’s bank accounts.
With those in mind, you can’t assume that other people would jump at the opportunity of taking in your pet. While they would have been splendid additions to any family, not everyone can afford to keep them.
The alternative would be to give them away to a shelter, which might not be the best place for them. The only way you can avoid this from happening is by opening a pet trust.
With Animal Care Trust USA, you have three options to choose from — Act4Pets Community Pet Trust, Forever Loved Pet Trust and the Custom Pet Trust. You can check out the details for each trust at their official website!
For more information about pet trusts, Peggy suggests picking up her book, “All My Children Wear Fur Coats: How To Leave A Legacy For Your Pet.” Reading it would educate you on everything you need to know to better protect your pet.