Newsday Tuesday – Yes, You Can Set Up a Pet Trust

I’ve posted before about the value in choosing a godparent for your cat. In these precarious times, there will be many pets in need of temporary and in the most severe situations, permanent care. Some of our pets will outlive us. Do you have a plan in place for your beloved cat (dog, bird, horse…)?

You can choose a guardian for your cat in a casual way—ask a friend to take over her care should you be unable to. Or you can set up a trust for your pet. Evidently every state has laws related to pet trusts. All you have to do is locate an estate attorney who handles trusts for pets—and as I understand it, there are many.

It’s estimated that it costs around $400/year for one cat’s basic care. If you plan to leave funds for her care, factor in veterinary expenses, pet sitting/boarding, etc.

Here’s a good article on the subject of setting up a trust for your pet.

This guide is even better—clear, concise, detailed, and simple to follow. It’s also somewhat entertaining.

Have you set up a trust for your cat? Have you taken the first step and asked a friend or relative to care for your cat should you be unable to? Make this the year that you take those important steps.

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