What is a Pet Trust?
A pet trust is a legally sanctioned arrangement that provides for the care and maintenance of one or more pets in the event of their owner’s disability or death. The person who creates the trust is commonly referred to as the ‘settlor.’ The person who is entrusted with the funds is called the ‘trustee.’ A trust can take effect either during a person’s lifetime or after their death. Typically, a trustee will hold property (cash, for example) “in trust” for the settlor’s pet or pets. When the time comes, the trustee will make payments on a regular basis to a designated caregiver. In some states, the trust may continue for the rest of the animal’s life or for 21 years, whichever comes first. Other states allow a pet trust to continue for the rest of the animal’s life without regard to the 21-year limitation. This is especially advantageous when planning for companion animals such as a horse or a parrot, which have a longer life expectancy than a cat or a dog.
Gollub Law Office, P.C. is prepared to assist veterinarians and pet owners with a variety of professional and personal matters, including:
Peter Gollub, DVM JD earned his veterinary degree from Tufts, and his law degree from Boston University, and is a past member of the Massachusetts Board of Registration in Veterinary Medicine.
Gollub Law Office, P.C. is conveniently located in Natick, next to the West Natick Commuter Rail station, and appointments can be arranged for off-site, after-hour, and weekend meetings when necessary.
4/29/2017 » 4/30/2017
Emergency and Critical Care for the General Practitioner