Pet Trusts

Pets are family. But what would happen if you weren’t around to take care of them? Who would care for your pet? Who would cover their expenses? These are not just emotional questions; they are also legal and financial ones that every pet owner in Georgia should consider.

Do I Need a Will or Trust to Care For My Pet in Georgia?

Under Georgia law, pets are treated like property in a Last Will and Testament. However, a Will may not be the best tool.

Your pet will need to be taken care of immediately if you pass away. If you left your wishes in a Will, there’s a problem: a Will can take time to go through the probate process. In the meantime, your pet could be left in limbo with no clear plan or access to cash for food, shelter, or medical care.

In 2010, the Georgia legislature enacted a law allowing for the creation of Georgia Pet Trusts to ensure every member of the family is cared for and covered. Unlike a Will, a Pet Trust can take effect immediately upon your passing, without probate delays. This ensures your pet receives immediate care, without confusion, delays, or gaps in support.

What is a Georgia Pet Trust?

A Pet Trust is a legally binding plan that covers every aspect of your pet’s care. It establishes a legal relationship among you, the trustee, the designated caregiver, and your pet. You can set it up during your lifetime, and it continues until your last pet passes away.

What are the Different Components of a Georgia Pet Trust?

Here are some of the different components of a Georgia Pet Trust and some of the decisions you should consider in creating one:

• Trustee: Manages the funds you set aside to cover your pet’s expenses, including veterinary care, food, and grooming.

• Caretaker: The person who will physically care for your pet, making sure they are safe and loved.

• Resources: You do not need to contribute money to the Trust during your lifetime. It can be funded when you pass away, for example, by life insurance proceeds, bank account funds, or assets in a Revocable Living Trust. You will want to set aside enough money in the Trust to care for your pet for the rest of its life. According to the ASPCA, in 2021, the average annual cost of owning a common household pet ranges from $700 to $1,100. (Horses usually have a higher cost.) The trustee’s job is to manage this money so that it lasts for the pet’s lifetime. Any assets that remain in the Trust when your pet passes away can go to a designated beneficiary of your choosing.

What Else Should a Georgia Pet Plan Include?

Your Pet Trust can include instructions to care for your pet, for example:

• Feeding instructions: How often and how much should they be fed? What kind of food do they eat?
• Dietary preferences: What brand and type of food do they eat? Do they have allergies or dietary restrictions?
• Medical care: Are there specific health concerns? Which veterinarian do you see? Do you have pet insurance? Do they take any medications? Do they have any allergies?