A Pet Trust is usually a Subtrust built into the regular Revocable Trust.
The Pet Trust can nominate its own set of Trustee(s) or depend on the parent or Revocable Trust’s Trustee(s).
The Pet Trust will usually be funded with a lump sum of money sufficient for the lifetime care of the Pets.
Other common provisions include designating a veterinarian, a request to keep your Pets together if more than one, and a designating Pet Sanctuary as fail-safe contingency.
An alternative to the Pet Trust involves gifting your pet to the preferred individual or organization along with a lump sum of money for the care.
Under California Law, a pet is considered the personal property of the owner.
For more information please contact the Law Offices of Hanlen J. Chang.