In the state of South Carolina, pets are generally considered to be property. Therefore, if you don’t include them in your estate plan, there is no guarantee that they will be properly cared for after your passing. One way to ensure that your furry friends have a good life without you is to create a pet trust.
What might be included in a pet trust?
A pet trust might include enough money to provide food, medical care and other essentials that an animal needs to live a comfortable and healthy life. Furthermore, a trust might include funds that can be used to buy animal toys, clothes or other accessories that may enhance its lifestyle. Finally, a trust might include funds to pay for a sitter or other forms of supervision.
A trust can stipulate who gets custody of your animals
Another key reason to create a pet trust is that you get to decide who takes care of your animals after you die. In addition, a trust can be used to determine who gets custody of your pet if you are incapacitated and unable to do so. This can help to ensure that your cat, dog or bird is fed, walked and in the presence of a friendly person at all times.
If you have animals, it is generally in your best interest to account for them in your estate plan. Doing so may make it possible to determine who cares for them and how they are cared for. In the event that no one is willing to keep your pet, you can designate a shelter or rescue organization to take possession of the animal.
