How to Address Your Pet’s Estate Planning Needs

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					How to Address Your Pet’s Estate Planning Needs

Section 11.118 of the Revised Code of Washington, governs pet trusts. Pursuant to
this code section, Washington State law allows individuals to set up trusts for the
care of their pets. Animal or pet trusts are similar to trusts for children. You must
appoint a competent adult to take care of your animal, just as you would for a
child. Deciding whether to establish a trust for the care of your pet or addressing
your animal’s care by incorporating a provision in your will or trust is a personal
decision that only you should make. If you decide to address your animal’s future
needs by incorporating a specific provision in your will or trust, you can leave
someone you trust an additional sum of money to address your pet’s needs.

You can also direct your pet trustee to give any remaining money to a charitable
animal organization. When your beloved pet passes away, your trustee will take
any remaining assets within your pet’s trust and donate it to the chosen charity.
You should also make sure you address your trustee’s compensation. By paying
your trustee a fair compensation, your trustee may assume more personal
responsibilities to ensure the welfare of your pet. You can also speak with your
attorney about giving your trustee a monetary bonus if he meets certain milestones.
For example, your attorney may be able to draft a specific provision in your will or
within your trust giving your beneficiary or trustee extra compensation if your pet
lives to a certain age. You may want to discuss these incentive plans with your
attorney.

Experienced estate planning attorneys Seattle WA of the Byrd Garrett PLLC offers
estate planning and business planning resources to residents of Seattle WA. To
learn more about these free resources, please visit http://www.byrdgarrett.com
today.




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Description: Section 11.118 of the Revised Code of Washington, governs pet trusts. Pursuant to this code section