Understanding Pet Trusts
Many pet owners consider their four-legged friends part of the family, and just like with any other family member, clients want to ensure that their pets are taken care of after they die. Perhaps the best way to ensure this is by creating a pet trust.
A pet trust is similar to other trusts and includes terms that provide for administration of the trust, distributions, care and custody of the pet (including medical care, grooming requirements, etc.), and may even include end-of-life instructions for the pet. This webinar will discuss the benefits of creating a pet trust rather than relying on family members or friends to care for your pet after your death. It will also discuss the various provisions that should be included in the trust agreement and what requirements certain states have for a pet trust to be valid.
Practitioners will learn about the following:
- When to suggest that a client create a pet trust, as clients may not know that this is an option
- What provisions should be considered and included in a pet trust
- The distinction between the trustee of the trust and the caregiver of the pet
- Options for remainder and contingent beneficiaries
- How certain states' statutes differ regarding requirements for a pet trust to be valid (e.g., maximum trust terms)
Presented by: Peggy Hoyt, JD, MBA
CLE: 1.0 general credit
States Pre-Approved: AR, CA, NV, MO, NJ, NY, OK, PA, VT
(AK, AZ, CT, NH eligible to claim credit)
States Pending Approval: CO, GA, IL, NC, OH, UT
We will apply for approval in other US states as registrations warrant,* with exception to the following: KS, RI, VA, WA**
* Approval process times will vary
** We will supply you with the information needed to self-apply
WealthCounsel members: This CLE eligible program is complimentary for WealthCounsel members. Please access and view it here via the member website for optimal experience and inclusion in your CLE Profile Account.
To view your course in the online Marketplace go to: https://wcstore.wealthcounsel.com/collections/courses