Pet Trusts
For many of us, including seniors, our pets are considered beloved members of our family. They love us unconditionally, wait for us to return from work, and sleep faithfully by our side night after night.
Unfortunately, under the eyes of the law, our furry friends are not seen as a member of the family, rather merely an item of personal property. In years past, this personal property designation resulted in pet owners having no peace of mind concerning the care and well-being of a pet after the pet owner’s death. That mindset is evolving and in Alaska, a trust for the care of a designated domestic pet is valid. Such trusts allow a pet owner to appoint a pet guardian, allocate funds for the benefit and well being of your pet, designate a trustee to manage the trust assets and ultimately distribute amounts to the pet guardian according to the pet owner’s instructions.
Protection Agreements
By contrast, a Pet Protection Agreement is an agreement between the Pet Owner and Pet Guardian who will continue to care for your pet if you experience a health care event you are unable to continue caring for your beloved pet companion.
HOW WE CAN HELP
Whether your pet companion is furry, four-legged or feathered, Alaska Estate Plans can help devise the appropriate pet documents to insure your beloved companion receives continuing loving care throughout your pet’s lifetime.