7 Pets You Should Include in Your Pet Trust

Pet trusts are a great way to provide for your pets after you pass away. They allow you to set aside money for the purpose of taking care of your pet, and are a great estate planning option for pet owners. However, not all pets are ideal for a pet trust. Hamsters, for example, usually only live a couple years and are low maintenance pets, meaning that a pet trust is not necessary for most hamster owners. But some pets are great pet trust candidates, especially the following seven.

1. Birds

If you have a bird, you very likely need a pet trust, especially if that bird is a parrot. Birds tend to live long lives, and parrots can live up to 100 years! This is a lifelong commitment for most pet owners, and probably even more. Birds also require a lot of maintenance, meaning you need to fund the trust well to pay for the bird. Think about this way: would you take on a large financial obligation for decades to come just as a favor? Probably not. So, if you want your bird to be taken care of, you need to provide financially for the bird after you pass away. This is where a pet trust can be helpful.

In addition to a pet trust, it can be good to help the bird now with the eventual emotional toll of your death. Birds grieve the loss of their owners and can tell people apart. Because of this, it is important that bird owners let their bird meet the person designated to take the bird at the owner’s death. Give the bird some time to get comfortable with their eventual new owner.

2. Cats

Cats are an extremely common pet and a great reason to set up a pet trust. Cats can live up to 20 years, meaning they often outlive their owners. This varies by breed though, so determining the breed of your cat can go a long way in determining how much money ought to be left in the pet trust. It is often wise to choose a new owner who has experience with cats, as cats have a reputation for being easy pets. Although this is sometimes true, cat owners will be the first to tell you that cats are not pets you can ignore.

3. Dogs

Dogs are an incredibly rewarding pet to have, but they require a lot of work and attention. For that reason, pet trusts make a lot of sense for many dog owners. The trust ensures that the new owner will be able to keep up with veterinary visits, pay for food (which gets pricey for larger dogs), and even buy toys.

Just as important though is to make sure your dog knows the new owner. Let the dog stay overnight sometimes with the person who will take over at your death. This lets the dog bond and get used to the new surroundings. You should also consider writing a care letter, outlining how to best care for your dog.

4. Turtles

Turtles are incredibly long lived. Some turtles can live more than 100 years! This makes turtles good candidates for a pet trust. Any pet that might live for an entire lifetime after your is going to require a special place in your estate plan.

When choosing a new pet owner, it can be important to select someone with the right environment. Ideally, turtles should not be kept indoors. So, someone living in an apartment might be a bad fit. You should also find someone ready to commit to taking care of the turtle, potentially for life. This is part of the reason that it makes sense to fund a pet trust; taking on any pet for decades can be a large financial commitment.

5. Horses

Horses require a lot of care, meaning that any horse owner needs to consider some equine estate planning. Horse maintenance includes grooming, boarding, feeding, training, and farrier services for the horse. Horses often cost thousands of dollars per year, meaning that you cannot simply give your horse to someone at death with no plan in place to pay for it! This is recipe for disaster, and a great way to get someone to reject the gift. If you have a horse, set up a pet trust today to take care of the horse after you pass away.

6. Pigs

Pigs can sometimes live between 15 and 20 years and have many unique needs, making them another great pet trust candidate. Pigs can get famously big and they need a lot of space. Despite being able to live inside a house and even sleep with their owners, many pigs are simply abandoned when they reach full size because they become a bit of a burden. This means that if you have a pig, you have to be careful who you leave that pig to when you die. And you almost certainly need to have a special needs trust to go along with the pig, otherwise the chances of your pig finding a new home go down even further.

7. Snakes

Snakes require little care aside from the initial costs of getting a good tank with the proper lighting and heating, but there are two facts that make snakes good pet trust candidates. First, many snakes live up to 20 years, which is long enough to require significant amounts of time, energy, and money. Second, a lot of people hate snakes. This means that getting a replacement owner when you pass away might be difficult without also providing a trust to pay for the snakes wellbeing. So, if you have a snake, it’s time for some estate planning.