Numerous research studies show that seniors are usually happier and live longer when they have a pet. Pets can make great companions, and they give the senior something to think about instead of their own troubles. Yet, many pets end up in the pound each year because a senior is no longer alive to care for them. In Utah, you can set up a pet trust to care for your pet after your demise.
Utah attorneys like T.R. Spencer Law Office. can help you create a pet trust fund. Then, at the time of your death, the money in that fund can be used to care for your pet's needs. Your trust can indicate who has the authority to spend the money and on what it can be spent. The trust can determine who takes procession of the pet, and where it is to live. It can also indicate how the money can be invested so that there is always enough to take care of the pet.
If you are leaving enough money that your pet should die before the money is depleted, then you can also designate a beneficiary who gets any remaining funds at the time that the pet dies. You may want to designate the money to go to 4-H or another youth organization where children learn to care for animals, the local animal shelter or any cause that is close to your heart.
Many people assume that a will is enough, but that may not be the truth. A will may have to go through Utah probate so the pet may not receive the care that it needs during that time.
When you choose to create a pet trust, you can stipulate many more things like what vet the pet gets to see. You can even designate how many times a day it gets fed and other details. Therefore, a pet trust is a much better solution.