The Norman Transcript

Features

March 19, 2013

How to ensure your pets are cared for after you’re gone

NORMAN — Dear Savvy Senior,

How does one go about creating a trust for their pets? I have a dog and two cats that mean the world to me, and I want to make sure they’ll be well taken care of after I’m gone.

Elderly Ellen

 

Dear Ellen,

Pet trusts have become more and more popular over the years as senior pet owners are looking for ways to ensure their pets will be well cared for when they’re no longer able to do the caring. Here are some tips to help you get started. 

 

Types of trusts

A pet trust is a legal instrument that allows you to designate a specific amount of money for your pet’s care and name a trustee to carry out your wishes. There are two main types of pet trusts you can set up. One option is a “traditional pet trust,” which is effective in all states and is similar to a trust you’d set up for a child, but it’s expensive costing anywhere from $500 to $1,500.

Or, you could opt for a “statutory pet trust” which is a much cheaper option and is currently allowed in more than 40 states and the District of Columbia. To create a statutory pet trust you simply add a few lines to your will, such as, “I leave $5,000 in trust for the care of my dog and two cats.” State law will fill in the gaps, so that the simple provision may be effective.

If you want to set up a pet trust, talk to an estate-planning attorney, preferably one who has experience with pet trusts. Or, you can work with a company like Peace of Mind Pet Trust (peaceofmindpettrust.com) or Trusted Pet Partners (trustedpetpartners.com). Some factors you’ll need to consider before setting up a pet trust include:

Text Only | Photo Reprints
Features
  • Biting protocol for puppies

    Dear Dr. Fox: My puppy really likes to chew on my hand when I pet him. I am afraid he might get more aggressive when he gets older. His sharp teeth hurt, and sometimes he runs at me and jumps up to paw me. I push him away, but he comes ...

    April 17, 2014

  • Norman volunteer recognized for work at Veterans Corner

    Each week, we recognize a volunteer who makes that extra effort to assure that a veteran or surviving spouse receives VA benefits. Shirley Clark-Cowdin has been with us four years. During that time, she and her crew of ladies have helped ...

    April 16, 2014

  • Here is how reverse mortgages operate nowadays

    Dear Savvy Senior, What can you tell me about reverse mortgages? I was considering one last year, but now I hear they are more difficult to get....

    April 15, 2014

  • Annual Norman Iris Show set at library

    A tradition of the Norman Area Iris Society and Norman Public Library returns this spring with the annual Norman Iris Show from 1 to 4 p.m. April 27 in the Lowry Room of the library, 225 N. Webster Ave....

    April 15, 2014

  • Allan Oehlschlager, family celebrating 100-year milestone

    From Kansas City to Norman with stops in Pennsylvania, Connecticut, Yale, Oklahoma City and Edmond — looking back as he prepared to mark his 100th birthday today, Allan Oehlschlager termed it a “glorious ride.” Born April 13, 1914, in ...

    April 13, 2014

  • Single parents to be honored

    Five Oklahoma single parents and two adult children of single parents will be honored with awards at the Single Parent Support Network black tie fundraiser, “An Enchanted Evening,” on April 29 at the Jim Thorpe Museum and Oklahoma Sports ...

    April 13, 2014

  • Dreams for the next 14 years

    On Monday I’ll be the proud aunt of a 14-year-old niece. For 14 years, I’ve had the chance to get used to her being 14 someday, and I’m still not there. Maybe in another 14 years, I’ll realize that she’s not a baby anymore....

    April 13, 2014

  • Midwest City reunions set

    Midwest City High School class reunions for 1970 to 1979 will be hosted in June at the Midwest City Community Center....

    April 13, 2014

  • Not typical boy behavior

    Q: My 18-year-old son and a slightly younger friend recently found some mice and decided to dispose of them. They drowned one and set the other one on fire. When I confronted my son for torturing animals, his response was “They’re just ...

    April 11, 2014

  • Readers respond to co-teaching issue

    We’ll say it again, we love our readers. Thanks to all of you who had comments about our column from the mom regarding her daughter in co-taught classes. We would like to remind you that our column is based solely on our experiences as ...

    April 11, 2014

Video
Facebook