Making sure your pet has sufficient resources to provide for its lifetime care is essential. Determine what you spend on each pet now and then multiply that annual figure by several years per pet to be safe. Then add some funds in the event of an emergency or catastrophic illness. Creative ways to fund a pet trust include leaving retirement plan assets and life insurance proceeds. Some pet parents will want to leave their home and resources to maintain the home so pets can remain in the own environment for the balance of their lives. The most popular choice can be simply to open a trust bank account with your bank in the name of your pet trust with sufficient funds in place. Please remember some pets require more funds than others, depending on their needs, medical conditions and species.
Modified on: Mon, Sep 19, 2016 at 10:47 AM
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