In this Elder Law Minute, Wes Coulson discusses pet trusts and what they can do for you.
Transcript:
I want to talk about something a little bit lighter today, but also something that for many of us is very very important. In my case, it’s very important because of my dear beloved Ziggy, and that is pet trusts. Happily, there are a lot of people in the Illinois and Missouri legislatures who are also fond of pets, so they’ve created a statutory mechanism by which you can establish a trust for the benefit of your pet or pets as part of your living trust, without having to go through a whole separate deal, basically by saying, “I establish a pet trust in accordance with the statute.”
What that allows you to do is to set aside money, put somebody in charge of it, and direct that it only be available for the care of your pet or pets for their remaining lifetime if they outlive you. If you have dear beloved pets like I do, when you come see us to get an estate plan done, let’s not forget about them. Let’s talk about including a pet trust as part of your estate plan.
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Dent-Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Dent-Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (618) 632-7000 (IL) or (314) 567-9292 (MO), or Contact Us and we will get in touch as soon as possible.
