Many of us think of our companion pets as family members. It is therefore important to make sure that your pets are cared for if ever you were unable to do so. One way to plan for their continued care is to create a Pet Trust in your Last Will.
Pennsylvania law recognizes and enforces Pet Trusts (called “trust for care of animal”). Section 7738(a) of Pennsylvania Title 20 provides that a Trust may be created to provide for the care of an animal that is alive during the settlor’s lifetime. The Trust would end when your pet passes away, or if you create a Trust for more than one pet, then the Trust lasts until the last pet dies.
One of the important decisions in creating a Pet Trust is deciding who should be the Trustee. You could also designate more than one Trustee and Alternate Trustees in the event the original Trustee becomes unable to act as Trustee. The Trustee is responsible for following your directions in taking care of your pets. In addition to the Trustee, you should also consider naming someone who monitors the care of your pets or require annual Veterinary checkups. The Pennsylvania Statute states that the Trust may be enforced by a person appointed in the Trust or by the court. A person having an interest in the welfare of the animal may request the court to remove a Trustee if the Trustee is not caring for your pet.
Another important decision is how to fund your Pet Trust. The Pennsylvania Statute requires that the amount must be reasonable in light of the Trust’s intended use. Therefore, you should consider the age and health of your pets, costs and Veterinary expenses, and possibly a guardian fee to be paid to the Trustee.
It is also important to know that any money funded for your Pet Trust will be subject to the Pennsylvania Inheritance Tax at 15% according to the Pennsylvania Department of Revenue.
Creation of a Pet Trust may give you peace of mind that your beloved pets will be taken care of. For information and a consultation, call the attorneys of Supinka & Supinka PC 724- 349-6768
