How Can I Provide For My Pet´s Future?
We share a special bond with our animal companions. Our pets rely on us for food, shelter, and companionship, and in return shower us with unconditional love and affection. How can you make sure that your cat is well cared for if you become ill? What if you are injured or incapacitated and can no longer take care of your dog? What will happen to your pet when you die?
Planning For Long-Term Or Permanent Care For Your Pet
Only a handful of states acknowledge pet trusts, and Oregon is one of them. Oregon law recognizes a pet trust as a legally enforceable method to provide for your pets and their care after your death.
In Oregon, an experienced attorney can help you create a pet trust through a Will or a trust document, such as a Revocable Living Trust. An attorney can explain how you can use a pet trust to name one or more individuals to care for one or more of your pets after your death. You can also name a 'trustee' to hold cash or other property 'in trust' for the benefit of your pet.
A Power of Attorney is another tool for providing for your pet´s future. However, a Power of Attorney is only effective during your lifetime, whereas a Will takes effect after your death. In a Power of Attorney, you can authorize your 'agent' to give your pet the care it needs, pay for necessary expenses, and even find a permanent home for your pet, if needed. Again, an experienced estate planning attorney can help you decide whether this document is right for you.
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