Florida Pet Trust: Secure Your Pet’s Future

Frequently Asked Questions About Florida Pet Trusts

Is a provision in my Will enough to protect my pet?

No. In Florida, pets are considered property, and you cannot leave money directly to an animal in a Will. If you leave money "to my dog" in a Will, the provision may be considered invalid, and the money could be distributed to your residuary beneficiaries instead. A Will also takes time to pass through probate, leaving your pet in limbo during the legal process. A Pet Trust is effective immediately upon your incapacity or death, ensuring no gap in care.
 

Who is involved in a Pet Trust?

There are typically three key roles in a Florida Pet Trust:

• The Grantor (You): The person creating and funding the trust.

• The Trustee: The person who manages the money. They distribute funds for food, vet bills, and other expenses.

• The Caregiver: The person who actually lives with and takes care of the pet. > Pro Tip: We often recommend splitting the Trustee and Caregiver roles between two different people to provide a system of checks and balances.
   

How much money should I fund into the trust?

The amount depends on your pet’s age, health, and lifestyle. You should calculate the annual cost of food, veterinary care, grooming, and pet sitting, then multiply that by the animal’s life expectancy. It is wise to add a buffer for emergency medical procedures.

• Example: A healthy dog with a 10-year life expectancy costing $2,000/year may need a trust funded with roughly $20,000 to $25,000.
   

What happens to the remaining money when my pet passes away?

You decide where the leftover funds go. You can designate a "remainder beneficiary" in the trust document. This could be a family member, a friend, or a charitable organization (such as a local animal shelter or rescue group). If no beneficiary is named, Florida law generally directs the funds back to your estate.
 

Our Pet Protection Process

1. The Key Roles

A well-structured Pet Trust typically involves separating the money from the care to ensure checks and balances:

• The Grantor (You): The person who creates the trust and provides the funds.

• The Caregiver: The person designated to have physical custody of the pet. Their job is to love and care for the animal daily.

• The Trustee: The person who manages the finances. They hold the checkbook and reimburse the caregiver for expenses.

  • Note: While the Caregiver and Trustee can be the same person, it is often recommended to choose two different people to prevent conflicts of interest.

2. The Care Instructions

This is the heart of the trust. You provide a detailed "manual" for your pet’s lifestyle. This can include:

• Dietary preferences and food brands.

• Preferred veterinarians and medical history.

• Exercise routines and grooming schedules.

• End-of-life directives (burial vs. cremation).

3. Funding the Trust

You must determine how much money to set aside to cover the pet's lifetime needs. This amount is usually calculated by estimating the annual cost of care (food, vet, insurance, sitting) multiplied by the pet’s life expectancy, plus a buffer for emergencies. These funds are legally held by the Trustee for the sole benefit of the animal.
 

4. The "Remainder" Beneficiary

A common question is: What happens to the money if the pet passes away? You designate a "remainder beneficiary" to receive any leftover funds. This can be a family member, a friend, or a charitable organization, such as an animal shelter. This ensures the funds are not tied up indefinitely after the trust's purpose has been fulfilled.