Pet Trust & Emergency Preparation
PET TRUST, When your pet out lives you...
Setting up a pet trust is an important and necessary step in professionally handling the care and quality of life of your companion pet after the guardian or owner has passed. Americans love their pets. The bond between people and their animal companions has never been stronger.
According to the American Veterinary Medical Association there are over 60 million households with one companion animal. Animal companions play an increasingly important role in most peoples lives, this shows just how attached and extravagant we have become when pets are involved.
The following reasons are why Americans have pets: Someone to play with, companionship, help their children learn, someone to communicate with and security. Pet ownership also helps reduce stress, lowering blood pressure, and mental attitude and concentration.
For many seniors citizens, a pet can be their only family, providing love, affection, and a reason to get up in the morning. Our connection with animals is so strong that 70 percent of pet owners would not hesitate to spend anywhere between $500 and $5000 on medical care to avoid euthanizing their pet.
Increased life expectancy is compounded because our pets are living longer. In the past fifty years, pets life span has nearly doubled. A report in the Purina Pet Institute found that nearly one-third of dog owners and more than one-third of cat owners live with a senior pet, defined as being seven years of age or older.
Animal shelters are overwhelmed because more than five thousand animal rescue groups are active in this country alone. More than fifteen million dogs and cats are euthanized in animal shelters across the nation annually. Anyone who works in rescue work will tell you that older animals are always the most difficult to place, and always the first candidates for euthanasia.
Setting up a pet Trust
The Saint Francis Pet Foundation has compiled the following information to assist pet owners who are considering a pet trust There are two standard comparisons of a pet trust.
A LIVING TRUST
* Takes effect immediately.
* Allows you to make changes easily as needed.
* Avoids probate and any delay in caring for your pet.
A TESTAMENTARY TRUST
* Takes effect after you die.
* Avoids any type of property or fund transfer prior to your death.
* Must be probated and is subject to judicial review.
A living trust, may have additional start-up and administrative expenses. Some pet owner do not want to tie up their assets in a trust while they are still alive.
A testamentary trust does not take affect until after you die and your will has gone through probate. This is a favorite option because it does not require immediate transfer of assets into the trust.
Top issues to consider when entering into an animal trust:
* Select a Trustee.
* Select a pet caretaker.
* Bequeath your animals to the Trustee.
* Avoid excessive funding.
* Request a desired standard of living.
* Set time limits on the trust.
* Use the trustee as a watchdog.
* Provide complete identification.
* Select a remainder beneficiary.
* Provide instructions for final disposition of pets.
* Consult your attorney about " no contest" clause in your will.
Protecting animal companions after you die is just another reason why you should consider the Saint Francis Pet Foundation for information or pet care instructions that best suites your needs
EMERGENCY PREPARATION FOR YOUR PETS
STEP 1 - RESCUE ALERT STICKER
STEP 2 - ARRANGE A SAFE HAVEN
STEP 3 - EMERGENCY SUPPLIES AND TRAVELING KIT
STEP 4 - CHOOSE "DESIGNATED CAREGIVERS"
STEP 5 - EVACUATION PREPARATION
STEP 6 - GEOGRAPHIC AND CLIMATIC CONSIDERATION