Providing for Your Pets When You Are Gone

The Ohio Trust Code that went into effect January 1, 2007, includes a new section created to meet the concerns of pet owners. Up until now, if you had a pet, you could name a specific person to whom you left your pet as a asset of your estate. You could also leave a gift of monies to that same person with the hope the funds would be used for the care of your pet. You could not, however, require that the funds be used for your pet’s needs as there was no right to leave assets directly to a pet and there was no ability to create a trust for the benefit of a pet.

Now, under Ohio Revised Code §5804.08, if you want to be certain that there will be funds set aside strictly for the care of your pet, you can create a trust for your pet. If you already have a trust for your estate plan, you can include in that trust instrument specific language that requires the trustee to leave a specified sum of monies in trust during the lifetime of your pet. If you have more than one pet, the funds can remain in the trust until all your pets are no longer living. You can use the trust instrument to name the trustee (and successor trustees), describe the care you want the trustee to pay for with the trust funds, and direct what happens to the remaining funds when the trust ends.