Our Thoughts

Can you leave money in trust for your dog or cat? The short answer is yes, at least in Pennsylvania.

The fate of your pets when you die is something to think about and may be worthwhile putting in your will. While you can't appoint a guardian for a bird as you would for a minor child, you can leave the pet to a friend or family member who you think would take good care of the furred (or feathered) one.

I recently served as executor of an estate with a cat and it took some doing to get a family member to step up to take him. If you don't make some kind of provisions, your pet could end up being given away or taken to an animal shelter.

Pets are considered to be personal property under the law. Don't get me wrong: we consider our three dogs to be members of our family. But for purposes of your will, your pets can be bequeathed (given) to somebody specific, just as you could give your Harley, fishing gear, or jewelry.

You can also leave money in trust for that person to care for your dog. Granted, the person you appoint as trustee should be somebody whom you trust, hence the word "trustee".

Even if you aren't rich, it's something that you may want to take care of, if not in your will or trust, then at least in personal instructions to your human survivors.

There was once a childless old lady who left $10 million in trust for her beloved golden retriever, "Jake", along with the use of her 20-room house. When Jake died, the money was to go to a charity. Now, Jake was a young dog when Mrs. Witherspoon died and the trustee was a good friend who loved dogs. The trustee took wonderful care of Jake and made regular withdrawals from the trust for Jake's care. He moved into the big house and was attentive to Jake's every need.

Every few years, the trustee sent a picture of Jake to the charity, telling them how well Jake was doing. Thirty years went by and finally, a new director of the charity decided to make an inquiry.

He went out to the Witherspoon mansion and saw a playing with a golden retriever on the spacious lawn. "Why do you ask? Jake is doing just fine", the trustee said, as Jake (III) came running over.