Man’s (and woman’s) best friend. If you like your dog better than your kids (just kidding), or if you think your pet will outlive you and you want them to be protected, you might be wondering what you can put in your estate planning documents. Different states treat pets differently, however, none allow you to leave property or money directly to a pet. So, what can you do?

                Often times, the answer is to set up a testamentary trust within your will. The testamentary trust would leave a sum of money to a designated individual—a Trustee—who may only use the funds to provide care and maintenance for your pet. This person can be named as the caretaker, too. Then, when your pet passes, the trust will terminate and any money left over can be distributed to other beneficiaries or charities. However, be sure to consider your pet’s life expectancy and the anticipated costs of maintenance and care. An overfunded trust is subject to challenge.

                In addition to this trust, it is a good idea to identify a caretaker for any animals and leave instructions for what is to happen between the time of your passing and when your will is probated. If you’d rather avoid the wait, you can also set up a standalone trust for the same purpose which kicks in instantly upon your passing.

                There’s no better time to think about your furry friend’s future than National Pet Month.