A Pet Trust Offers
• the option to clearly define how monies will be distributed via Latham Lifelong Pet Care
• a set gift determined by the Grantor that would allow for 100% care of a pet through Latham when an owner passes the Grantor the option to name a Trust Protector who will help make decisions in regards to the Trust after one has passed – this safeguards pets from families in disagreement the option to control personal assets as one ages.
Pet Trust Checklist
1. Pet’s standard of living and care
2. Food & diet
3. Daily routine’s and socialization
4. Toys
5. Grooming
6. Medical care & health conditions
7. Burial, Cremation & Distribution of Remains
a. Burial at Latham (Setucket Property)
8. Name of Trustee & Trustee successor
9. Name of Caregiver & Caregiver successor
10. Information identifying the pet
11. How the trust will be funded
12. Liability Insurance
13. Under what terms should pet be euthanized
a. Designated Trust Advisor
14. Distribution of remaining trust assets upon the death of the pet
Aspects of a Legal Pet Trust
1. Designated Caregiver
2. Designated trustee and successor trustee
3. Funding Distribution Based On:
a. Type of animal
b. Anticipated life expectancy
c. Standard of living & daily detailed care
d. Anticipated future medical treatment
e. Compensation for services to trustee & caregiver
4. Tax Considerations
5. Charitable Remainder Beneficiary(s)