A pet trust isn’t necessarily for everyone. Not everyone who has pets calls themselves a pet parent, spoils their very loved pet family members, and worries about assuring their continued happiness and well being.

But we do.
If you do too, please consider establishing pet trusts for each of your little friends. It may mean everything to them, and will certainly mean a lot to your bigger friends whom you may ask to step in and care for your pets if you’re no longer around to do so.

So, how do pet trusts work?
Basically, a pet trust is a legal document that creates a “purpose trust” with a non-human beneficiary – your pet. In it, you appoint a Caregiver (and a possible successor) that will take your pet into their home and care for it for the rest of its life if you die or become disabled. You also appoint a Trustee that manages the money in the trust so it’s used for your intended purposes and lasts for all of your pet’s life. And you also name an Enforcer that makes sure that your instructions in the trust are being properly carried out by your chosen Caretaker and Trustee.

Are there are alternatives to establishing pet trusts?
Yes, of course. You can simply get a friend or family member to agree to step up if something happens to you and your pets need a new home. That will work well for a lot of folks, but not so well if you’re used to “over-spending” on your pet or if your pet has specific needs that can be pricey or burdensome. In any case, it’s kind and thoughtful to provide your friends or family members the funds that will be needed to pay for your pets’ continued care.

And you can just gift a lump sum in your will to cover those anticipated expenses, but those funds still need to be timely delivered and properly managed and also are subject to claims by creditors or to being spent on something other than your pets’ welfare.

Do I need a separate Trustee for my pet trust?
Many pet trusts appoint the same person as the Caregiver and the Trustee. This can work out OK, but it can also defeat the main purpose of establishing a trust (to make certain your wishes are followed and your money is spent only for your pets’ needs). It also places a large burden on your Caregiver who has agreed to look after your “baby”. Being a Trustee requires setting up bank accounts, keeping records, filing trust tax returns, and managing spending so the trust funds last.
You can also appoint another friend or family member to act as your trustee, but who really wants to impose that burden, which includes dictating the actions of another friend or family member?

So what does Pet Zero do?
Pet Zero acts as your Trustee. Pet Zero establishes an account for your trust and provides you (and later your Caregiver) with a card that is used to pay for your pet’s expenses. Pet Zero also ensures that your veterinary insurance, special pet food subscriptions, and other monthly services fees continue to be timely paid if you become disabled or die. Pet Zero will work with your life insurance company and bank to ensure the funds you’ve designated make their way into the pet trust accounts. Pet Zero also sets monthly spending limits so your trust funds last, while also approving payments for extraordinary expenses like surgeries or flights.

What does your trust’s Enforcer do?
Your Enforcer is your “boots on the ground” that helps ensure your pet trust works as it’s supposed to. The Enforcer should be someone you trust who lives near you, whom your pets know, and who has access to your home. Your trust Enforcer will be the person to swoop in and ensure your pets are OK if you pass or are rushed to the hospital. They will make sure your pets get transferred to your Caregiver’s home. They will inform the Trustee that the trust’s services and funds are needed. And they will check in on your pet periodically (in person or by video call) to ensure it’s still alive and well.

Pet Zero is a public benefit corporation. That’s not a charity, but it is a company that puts purpose ahead of profits. It is nearly impossible to hire a bank or trust company as a professional trustee for a small ($40,00 or less) pet trust. Minimum annual fees can be as high as $10,000, which would quickly eat up all your trusts’ funds. Your attorney likely won’t want to agree to be your trustee, and would likely need to charge substantial hourly attorney fees if they did. Pet Zero instead charges a flat monthly trustee fee of $30 both during your life and during the trusts’ administration. Plus Pet Zero offers discounts for multiple pet trusts, and some additional features such as managed card accounts, carbon offsets, online updatable pet care instructions, and membership in a broad community of fellow pet parents.

We welcome you to be part of our family, and would be more than honored to help look out for a very important part of yours.
We are Pet Zero, and we make pet trusts work.