Pet Trusts In Colorado
Your pets are your family, and right now, you’re providing extraordinary care for them. But what if something were to happen to you? What would happen to your pets?
If you don’t want to leave it to chance, that your pets will be well-cared for after you die, you should set up a pet trust.
What Is A Pet Trust
A pet trust is a legally-binding arrangement that allows you to provide for your pets, in the event that you become disabled or die. When you set up the pet trust, you put assets into it (e.g. real estate and/or cash), which will be held “in trust” for your pets.
Typically, you’ll figure out how much money you’ll need to cover all expenses (for the care of your pets and for administering the trust). You’ll also designate a “remainder beneficiary,” which can be individuals or organizations that will receive any money left over after your pets pass.
You Can Use A Pet Trust During Your Lifetime Or After Your Death
The beauty of a pet trust is that if you need to use it while you’re still alive – but unable to properly care for your pets – it’s there! And after your death, the pet trust can ensure quality care for the life of your pets. At Althaus Law, we understand how deep the love your furry friends can go. If you have a moment, feel free to check out our four-legged family members here!
You Set The Terms For Care In Your Pet Trust
In a pet trust, you can lay out explicit instructions for the care that your pets will receive. This could include:
- housing arrangements
- specific types of food
- amount of exercise and/or attention
- a schedule of veterinary care
- inspections of your pets by your trustee
- burial or cremation instructions for your pets
Types Of Animals In A Pet Trust
You can designate care for any type of animal in a pet trust, but typically pet trusts are used for:
- parrots and other birds
Pet Trusts In Colorado
Not all states allow pet trusts, but Colorado does permit pet trusts to be set up for domestic or pet animals.
How To Set Up A Pet Trust In Colorado
Pet trusts, surprisingly, are a complex area of law, and you don’t want to make a mistake that could affect what happens to your pets after you die. As part of the estate planning process, we can help you properly set up a pet trust and advise you on the best way to administer it.
Please note: In addition to pet trusts, we can set up all types of Trusts. We help clients throughout Colorado, including Thornton, Broomfield, Brighton, Arvada, Westminster, and Monument. Contact us today!
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