ATLANTA -- People who treat their pets as part of the family will be happy to learn that they can continue to care for their furry family members after death through the use of pet trusts. A pet trust is a legal agreement in which you designate a person to be a caretaker for your pet if something should happen to you. This caretaker is required to use the funds in the trust to take care of your pet, and the caretaker may be replaced or penalized if he or she fails to provide the required care.

More and more people are learning that they can create trusts for the benefit of their pets, and more and more people are starting to use them. Creating a pet trust is easy to do if you know what to do. Here are five questions to help you determine if a pet trust is right for you:

1. Do I want to create a trust now or when I pass away? If you set up a trust now, your pet will be cared for in the event you are unable to do so. For example, you may lose your ability to take care of your pet as the result of a car accident. If you set up a trust that becomes effective upon your incapacity, your pet would be taken care of in this situation. Although this type of trust provides more protection for your pet, it is usually more expensive to set up and maintain. The alternative is to draft a last will and testament that creates a pet trust when you pass away. This is usually a cheaper alternative, but it only provides protection for your pet when you pass away.

2. How much money do I want to put into the trust? This can be the most difficult step in the process, and the amount can depend on factors such as your pet’s age and health, dietary requirements, available insurance coverage, and whether you choose to establish the trust now or upon your death.

3. Who do I want to appoint as the trustee? The trustee will control how the money in the trust is used for the benefit of your pet. You will want to appoint someone who you trust to take good care of your pet.

4. What happens to extra money when my pet passes away? You may want to name a family member or charity to receive any money remaining in the trust. Keep in mind that the person who receives the balance of the trust funds may challenge the trustee if they feel the trustee is spending too much money on your pet.

5. How do I actually start setting up the trust? Contact an estate planning attorney and provide the attorney with this information. An estate planning attorney can determine the legal requirements for formation of a pet trust in your state and can draft the trust agreement for you. As pet trusts increase in popularity, more and more estate planning attorneys are specializing in the creation of such trusts, so you may want to check your local directory to see if you can find a specialist in your area.

Our pets provide us with countless benefits. They provide love and companionship, boost our emotional and physical health and teach us patience and responsibility. For some, they can even provide a reason to live. For everything that they do for us, it’s our duty to provide them with adequate care. With appropriate planning, we can ensure that they can continue to receive the care they deserve even if we can no longer provide it ourselves.