It may be an unpleasant thought but what will happen to your pets in the event of your death? You may not want to think about this, but, you should. In the past it was not considered appropriate or legal to leave money directly to pets for their future care. And therefore, many animals were euthanized after the death of their owner. But a 1993 change in the Uniform Probate Code, a legal model used by many states, allows trust funds for a pet's care that continue for its lifetime.

It is not wise to assume that your children or grandchildren will automatically provide care for your pets. But, you can provide for your pet's future care by either adding a couple sentences to your will, setting aside funds, and designating someone to provide for their care or setting up a trust.

If you elect to set up a trust fund for your pet, you should consult an attorney to ensure that your bequests will pass legal muster, if challenged. The trust should contain information on the name and address of the trustee and an alternate. Each pet should be described in detail. You can also specify the standard of care required, how end of life decisions should be made, and the disposition of the remainder of the trust after the designated pets are deceased. The average pet trust is approximately $25,000.

Posted by Paula.