Pet Trust

Pets are important parts of our lives.  It is only natural to want to plan for their future after their owners have passed.  One of the best ways to make arrangement for your pets is through pet trusts.  Even though animals are viewed as personal properties under Texas laws, Texas Property Code section 112.037 does recognize the creation of pet trusts to care for the animals.  In a pet trust, you designate a certain amount of fund to put in the trust.  The animal is gifted to the trust and becomes the trust’s property.  A trustee will oversee the use of the fund under terms established in the trust agreement, while a caretaker will care for the animal.  To maintain the checks and balances, it is advisable to have different persons act as the trustee and caretaker.