Maryland Estate Planning for Pets: Pet Trusts

I occasionally have clients inquire about making estate planning provisions for their pets. Under Maryland law this can be accomplished with the right estate plan. You can make provisions for your pet within your Maryland Last Will and Testament. Another approach is to create a Maryland Pet Trust. This type of trust is created specifically to take care of your animals when you are no longer able to do so. This could happen even before you have passed away.

If you are thinking of establishing a Maryland Pet Trust, here are a few considerations:

*Name a trustee who will manage the funds.
*Choose a caretaker for your pet.
*Find an organization that will care for your pet if the caretaker is unable to do so.
*Provide care instructions for your pet.

An advantage to creating a trust over a simple will, is that you will have more control over what funds are actually spent on your pet. You will also avoid some of the expense of Maryland probate (estate administration) and more funds available for your pet; and you will avoid the delay of probate where the funds may not be available for several months. Establishing a Maryland Pet Trust or making it part of your Living Trust ensures that the money will be immediately avialbe for the care of your pet.

For a free, confidential conversation to discuss these and other estate planning matters, contact Maryland estate planning attorney Stephen J. Reichert at 410-299-4959, sreichert@reichertlegal.com or by clicking here. I provide office or home meetings at your convenience throughout most of Maryland.

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