As a responsible pet owner and animal guardian, it is up to you to provide for your pet after you are gone. But how can you know that someone is caring for your pet as well as you would? A pet trust assures you that a trustworthy person is carrying out your wishes exactly as you have specified.
A pet trust is part of an estate plan or will. It provides a directive for the care of your pets in case of unexpected incapacitation or death. As per Title 15 of the Colorado Revised Statutes, you create a trust designated for specific pets and potentially their offspring, in certain circumstances.
You will appoint a trustee, who holds and distributes the money to provide the care. You also decide on a primary and secondary caregiver. These caregivers are responsible for actually providing the care you have outlined in your trust. When you create the trust, you can also create a detailed plan on the maintenance of your pets. Specifying types of food, veterinary care and daily activities are all examples of what you can include in a pet trust.
Unlike some states, where there is no set limit, a pet trust is only viable for 21 years in Colorado. Take note of this if you want to provide care for a type of animal that has a longer lifespan. Some people find that speaking with a lawyer about any other possible options may help get around this obstacle,