BY: LANA HOCK

Those of us who support FACE often do so because we have companion animals of our own and know the cost and responsibility to these dependent creatures. This is why, when we are planning our legacy through estate planning, it is important to consider how we would want our furry family members to receive uninterrupted care if we become incapable of caring for them ourselves.

A pet trust is a legally sanctioned arrangement providing for the care and maintenance of one or more companion animals in the event of a grantor’s disability or death. The “grantor” is the person who creates the trust, which is legally enforceable, so pet owners can be assured that their directions regarding their companion animal(s) will be carried out. It can be included as part of your traditional estate planning documents or created as a stand-alone document.

The trust can be very specific – food, veterinarian care, named sanctuary for end of life, etc. In addition to naming a trustee or caregiver, be prepared to include identifying information, like photos, and microchip registration. You may also include detailed standard of living and care information, and should set aside adequate funds to cover estimated expenses and compensation for the caregiver (if needed.)

– – – – – – – – – – –

Lana Hock is a Director/Financial Advisor with the Hock Group at R.W. Baird & Co. and specializes in wealth management and financial planning for individuals and small business owners. Her lifelong love of animals was sparked while growing up on a farm in Nebraska. She has been supporting FACE since 2021 and joined the Board of Directors in 2023. Look for future columns in FACE newsletters covering other popular gifting strategies including in-kind donations, retirement accounts, donor advised funds, private foundations, and charitable trusts.

Donors should consult with their personal tax professionals – this is not considered tax/legal advice.

For information on including FACE in your legacy planning, visit our website, https://face4pets.org/planned-giving/ or contact  our Director of Development, Annamarie Maricle at [email protected]  or 858-450-3223 (option 3).