FUNDING

Once everything is in place, you need the money to fund your Pet Trust budget so your pet can be cared for the way you instructed. There are multiple ways to do this depending on your financial circumstances.

Your Pet Trust Budget can be funded in two parts. The first part would cover the care of your pet while you are alive and can remain the Trustee. Then, you would only need to rehome your pet for a short period of time so the amount needed would be much less than the full budget amount. You can fund this portion with money from your bank accounts so your Trust can be used in case of an emergency. There are alternative ways of funding also. Keep in mind that any funds used while alive should be replenished.

The bulk of the Pet Trust funding is used after your death. This requires your account to maintain a larger balance that can sustain your pet’s care for the rest of its life. If you do not have money in the bank, but have investments, they are often used or sold to finance your Pet Trust. If not, many people find they are able to purchase Life Insurance and name the Pet Trust as the beneficiary. It is also possible to fund the account with the sale of real property (real estate) or tangible property (personally owned items). We discuss this in more detail throughout the articles, videos, and blogs in our Library.

When funding your Pet Trust, it is wise to consult with professionals who can help guide you. Often, discussing your financial circumstances with Certified Public Accountants, Attorneys, or Financial Advisors can help you make the funding decision that is best for you.

Having the comfort and peace of mind knowing your beloved pet will still have a loving home if you are no longer around will take a great weight off your shoulders.