Has anyone set up a pet trust? We are working through one now with a lawyer. Any advice?
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Pet Trust?
- Thread starter misty8723
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I don't have any knowledge on the matter but I would research on line as much as you can. Members here are pretty helpful so I'm sure you'll get some good advice 
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Advice: find an attorney well-versed in the matter - not just an estate planner or an attorney who writes Revocable Living Trusts using a standard formula. Mine's set up in Delaware, as a not-for-profit corporate (501-c3) foundation, naming my veterinarian (and dear Friend) as both executor and counter-trustee, and requires the creation of a free clinic and shelter on the premises, should the good Lord ever decide that I've been here long enough.
Edit: if you're having an inter vivos trust written, be certain that your trustee(s) and executor are clear of the lifetime cap for inheritance ($600k currently, I believe), and if you're in a $3.5M state rather than a $2M state (at 16%), and the trust exceeds the former figure, urge your counsel to look into setting it up in anotherless blue state.
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Advice: find an attorney well-versed in the matter - not just an estate planner or an attorney who writes Revocable Living Trusts using a standard formula. Mine's set up in Delaware, as a not-for-profit corporate (501-c3) foundation, naming my veterinarian (and dear Friend) as both executor and counter-trustee, and requires the creation of a free clinic and shelter on the premises, should the good Lord ever decide that I've been here long enough.
Edit: if you're having an inter vivos trust written, be certain that your trustee(s) and executor are clear of the lifetime cap for inheritance ($600k currently, I believe), and if you're in a $3.5M state rather than a $2M state (at 16%), and the trust exceeds the former figure, urge your counsel to look into setting it up in another
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- Thread Starter Thread Starter
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Thank you for the advice. Our attorney is one recommended by the rescue we adopted cats from and where I presently volunteer. I trust them (the rescue director), and the law firm is a small one and very animal friendly. We are doing the very best we can to make sure our cats are not treated as property if/when we go, and have already determined that the rescue will take them, we just have to get a method in place for them to be taken to the rescue. If that makes sense.
