Estate Planning-Why Create A Pet Trust?
- A pet trust can provide for your pet during emergencies and incapacity.
- Enables you to designate a caregiver in advance.
- Ensures a dependable source of funds for pet support.
- Peace of Mind – Especially For Elderly Pet Owners
You love your cat, dog or exotic bird, what happens when you die to your beloved family member? Unfortunately, the court see out pet as property. So you can not leave money directly to your pet. The work around is to leave it indirectly through a Pet Trust.
How Do Set Up A Pet Trust?
- Steps 1 – Pick A Caretaker For Your Pet and Trustee/Trust Executor – Confirming Acceptance of the Positions and Wishes For Your Pet (Can be the same person)
- Step 2 – Create a Trust Free on Rocket Mortgage – Click Here
- Step 3 – Get The Trust Notarized by a Mobile Notary from On Call & Mobile
Frequently Ask Questions About Pet Trust
What Can The Money I leave Be Used For?
Pet trusts funds can provide funds for an animal’s needs, including food, toys, and veterinary care.
Do I need a lawyer to create a pet trust and what is the cost?
No, You do not need an attorney to create a pet trust. There are free resources.
What Can The Money I leave Be Used For?
Pet trust funds can cover an animal’s needs, such as food, toys, and veterinary care.
What happens To The Money After My Pet Dies?
After the death of the last pet your wishes for the funds to be distributed should be followed. For example, you could give it to a charity, relative or friend.
What is the State of Wisconsin Law applies to Pet Trust?
Wis. Stat § 701.0408 (replaces Wis. Stat. § 701.11, which was enacted in 1969)
Year of Enactment: 2013 – A trust may be created to provide for the care of an animal alive during the settlor’s lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor’s lifetime, upon the death of the last surviving animal.
What happens to pets if you die without a will or a pet trust?
In Wisconsin, if you pass away without a will or other arrangements for your pet, your family has the authority to decide what happens to your pet. They are not legally obligated to provide care for your pet. Pets are legally considered property and are subject to probate. Probate is the legal process that distributes a deceased person’s assets.
Can pets inherit money in a trust?
You can have money set aside to for the care of your fur baby’s care.
Do I Need A Separate Trust For Each Pet?
Under Wisconsin law, pet owners can establish a trust to guarantee the care of their pets after their passing. This trust can be created to provide for a single pet or multiple pets.
Additional Trust and Estate Signing Services Available
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