Of course, whenever we say this, we’re talking about our pets.  Our companions of many varieties: our dogs, cats, talking birds, horses.  The list goes on.

Our pets love us without reservation, just like the best of our family.  But there is an important difference between our human family, and the animals that are also our family.  Our pets are totally dependent on us for their survival.

If we die unexpectedly, our human family can usually take care of itself. They have jobs, or may be the beneficiaries of the insurance and pensions, or the joint owner of the home.  For that reason, many people avoid the tough questions that come with estate planning and dealing with their possible death or incapacity.  In those cases, when tragedy occurs, the family suffers through a lot of uncertainty and turmoil, but almost always survives intact.

Our loyal companions have no safety net

If you don’t provide for your pets when you’re incapacitated or when you die, there is no way for you to know what will happen to them.  Perhaps a relative will accept the burden of taking your pet and will shower them with love and care; perhaps a friend will be a “pet-lover” and will be financially able to give your older pets the medical care they need to live out their life in comfort without pain; or perhaps it will just be too much trouble to find a new home, and the solution will be to have your “family” member euthanized.

One thing is certain

If you care about your pets’ future, you must include them in your estate planning.  If you don’t provide for your pets, you will have no control or input into what happens to them.  If you don’t provide for your pets, they will suffer the consequences.

The best way to protect your pets is to set aside some money in a trust to be used for their benefit.  However, under traditional trust law, it wasn’t possible to create a trust for a pet, because there was no way for the beneficiary (your pet) to enforce the terms of the trust.

The legislature in Springfield recognized the strong desire and need for its citizens to protect the welfare of their “four-legged family” and came up with a solution.  That solution is an Illinois statutory “Trust for domestic or pet animals” (760 ILCS 5/15.2). It is commonly called an Illinois pet trust.

Some Background

In a regular “human” trust, there are three roles: (1) the grantor, who creates the trust rules and who donates the property held in trust; (2) the beneficiary, for whom the trust property is held and distributed; and (3) the trustee, whose job it is to protect the trust property, and to make distributions to or for the benefit of the beneficiary, as directed by the grantor.

Illinois Pet Trust

Under the rules for an Illinois pet trust, there is typically an additional role for someone who makes sure that the pet is cared for, for a total of four roles:

1. the grantor;
2. the beneficiary (the pet or pets);
3. the trustee; and
4. the “caretaker” who has possession and control of the pet(s).

Under an Illinois pet trust, the trustee manages the trust property and is directed to use the trust property for the care and the benefit of the pet.  The caretaker owns the pet and is responsible for housing and caring for the pet.  Typically, the caretaker and the trustee will work together to determine how much money is needed for the care of the pets and other related expenses.  In addition, the caretaker is given the authority to enforce the trust terms and the grantor’s intent.

The pet trust terminates when the last pet dies, or when the trust property has been spent.  If there are unexpended funds when the trust terminates, those funds will be distributed as the grantor directed.

An Illinois pet trust is a comprehensive method to provide for the future care of your pets.  If you create and fund a pet trust now, your pets will be taken care of if you become incapacitated and upon your death. No more worries.

Too complicated?

If you think that a pet trust may be too complicated or if you are having trouble coming up with separate friends or relatives to act as trustee and caretaker, there’s a simpler option.

When you die, you can just leave your pets and specified sum of money to someone who you absolutely trust to love and care for your pets and who will use the funds solely for your pets.  Hopefully, he or she will be delighted to help your pets live the best lives that they can.

No one to act as caretaker?

Let’s say that you’ve racked your brain, and you can’t find anyone who will be the “right one” to take care of your beloved pets for the rest of their lives. Another option is to leave your pets (and a monetary gift) to an animal shelter, which will find a suitable, loving new home for them.  In Chicago, PAWS Chicago offers a service called its Guardian Angel Pet Care Program.  If you don’t have any other option, please contact them at (773) 475-4242 and discuss your situation.

Protect your pets now!

Don’t abandon pets when you pass away or if you suddenly become unable to care for them. Their love deserves a plan.

If you’d like to discuss how to protect your “four-legged family,” please contact me.  I’d be happy to speak with you and to help you return the love that your pets give to you.

Contact John