Pet Trust ensures protection, care for animals after an owners death

Nov. 30--What happens to pets after their owners die? It's a question that we don't like to think about -- but it's one that's also extremely important to ensure the protection of animals that most people consider members of their family.

There's no national average, but stories abound about pets being abandoned in shelters -- mostly because their owners died or there was no one available to take care of them.

The best way to prevent the worst is to plan ahead. Pet owners may not think about what will happen to their animals when they're doing their estate planning, but Noel Di Carlo, president of Warshaw, Di Carlo & Associates, wants people to know they can exercise the option of a pet trust.

"The only way to ensure that your pet is guaranteed their protection is to create a vehicle by which they're cared for," Di Carlo said. "And, if you think about it, even if one of your friends or relatives do take your pet in, that can be a big financial burden on them."

To ease that burden, pet owners can fund a pet trust that ensures the protection of the pet, first and foremost. Owners can choose the pet's guardian, and make it so the guardian doesn't have to reach into his or her own pocket -- which is an incentive for them to keep the pet.

The concept of a pet trust was explained to an audience of 38 people at The Gloucester House Restaurant in early November in an event hosted by Cape Ann Animal Aid and presented by Warshaw, Di Carlo & Associates, P.C. and Cape Ann Savings Trust & Financial Services.

Di Carlo said a lot of the clients at her law firm don't come into the office thinking a pet trust is a thing, but a majority do make sure their pet is taken care of in their estate once they find out they can make a plan for their animals.

The law firm was bombarded with questions about setting up a pet trust after the 2007 death of billionaire Leona Helmsley, who gave $12 million (later knocked down to $2 million by a judge) to her dog, making sure the Maltese was well-cared-for in the event of her death.

But you don't have to be a billionaire to ensure your pet's protection in a trust. The cost varies, because there are a number of ways you can take care of your pet. The goal is to make sure the pet's new guardian is left with enough funds to take care of the pet you entrusted them with.

Di Carlo recommends a person set aside money that depends on factors such as the pet's age and how much you spend on them.

In the event of their death, owners can also make sure that, if there's no one available to take care of their pets, they can choose a no-kill shelter of their choice, like Cape Ann Animal Aid.

The shelter has reported that they had received about 22 animals in 2017 as a result of the declining health or death of an owner, and they often don't know much about the animals that come to them.

"We certainly feel that it's very important that people plan for who will take care of their animals if they're unable to," said Rebecca Baylies, director of Development and Communications at Cape Ann Animal Aid. "It can be very sad and heartbreaking, especially when we see animals where there was no plan in place for them, and so we end up receiving them because they have no other place to go.

"If people make a plan -- even if they ultimately decide that Cape Ann Animal Aid is one of their back-up places -- at least they made one, and we know a little about the animal," she continued. "Sometimes folks will fail to do that, and it's really heartbreaking to see the animals struggle with that change, because they lose their best friend, they lose their home. We're here to take care of them, but we would like to encourage our community to make plans for their pets."

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