Another Species of Estate Planning – Pet Trusts
You may remember the famous story of “Trouble,” the Maltese pup who made headlines in 2007 when her owner, hotel heiress Leona Helmsley, left her a $12 million trust fund. While the judge later reduced the amount to $2 million, the case highlighted an important estate planning tool — the pet trust.
Despite their sometimes sensational reputation, pet trusts can be a practical and compassionate way to make sure your beloved animals are cared for after you’re gone.
Why Pet Trusts Matter
Estate planning is about taking care of family — and for many of us, pets are very much part of the family. A pet trust can:
- Ensure your pets receive proper care if you pass away or become incapacitated
- Provide immediate access to funds for your pet’s needs (since trusts avoid probate delays)
- Appoint a caregiver and trustee to carry out your wishes
- Offer peace of mind that your pets will not end up neglected or in a shelter
Pet trusts are especially important for long-lived animals like parrots, horses, or tortoises, whose lifespans may extend far beyond their owner’s.
Key Elements of a Pet Trust
When working with an estate planning attorney to create a pet trust, consider including these important elements:
1. Appoint a Caregiver (and Backups)
Choose a caregiver you trust and discuss your plan with them in advance. Consider naming one or two backup caregivers in case your first choice is unable or unwilling to serve.
2. Identify Your Pets
You can describe your pets as a “class” (e.g., all my dogs and cats) or specify them individually by name, photo, or microchip number.
3. Provide Care Instructions
Include details about your pet’s:
- Diet and feeding schedule
- Veterinary preferences
- Medications and health needs
- Grooming, exercise, or farrier visits (for horses)
- Special habits or behavioral notes
4. Allocate Reasonable Funds
Set aside enough to cover your pet’s expected lifetime expenses — food, vet care, boarding, grooming, etc. While you don’t need $12 million like Helmsley, be realistic about what it will cost to maintain their quality of life.
5. Plan for Prize Animals or Livestock
If you own valuable livestock, horses, or show animals:
- Document bloodlines and provide proper valuation
- Identify any loans tied to the purchase of the herd or animals — these debts must be settled before human heirs inherit
6. Include Final Arrangements
Specify your wishes for your pet’s remains and designate where any leftover funds should go once the animal has passed — such as a charity, rescue organization, or back to your heirs.
The Benefits of a Well-Drafted Pet Trust
A properly drafted pet trust saves time, avoids court battles, and ensures continuity of care. It also gives you control over how your money is spent for your pets’ benefit — instead of leaving the decision up to relatives who may not share your priorities.
Take the Next Step
Your estate plan should take care of everyone you love — including your animals.
If you’d like to learn more about pet trusts or review your current estate plan, we’d be happy to help. Call us at (207) 848-5600 or visit our Contact Page to schedule a consultation.
