We understand the deep bond you share with your beloved pet. They sure do bring you unconditional love, companionship, and joy you can’t quite find anywhere else. In fact, recent reports indicate that pet owners tend to have lower blood pressure and heart rate, better mental health, and lower risk of heart disease with 95% of Pennsylvanians viewing pets as family members.
As a responsible pet owner, you want to ensure the well-being of your fluffy friends throughout their lives, including planning for their future after you’re gone. An estate planning attorney in Pennsylvania at Petrelli Previtera, LLC can help you through this process.
Contact us today to help secure your furry, feathered, or scaled family member’s future.
Key Takeaways
What Is a Pet Trust in Pennsylvania?
A pet trust is a legal document in estate planning authorized under the Pennsylvania Uniform Trust Act, §7738. It allows you, the pet owner (grantor, trustor, or settlor), to set aside funds and designate a trusted person (trustee) to care for your pet if you become incapacitated or pass away.
A pet trust in Pennsylvania can be created in three different ways:
- As a part of a will
- A revocable living trust
- A stand-alone trust
Through a pet trust, you can ensure your pet’s well-being by outlining their specific needs and desires, including the following provisions:
- End-of-life care
- Food and dietary preferences
- Cremation or burial
- Living arrangements
- Grooming
- Exercise and playtime routines
- Veterinary care and healthcare
The trust remains active until the death of the last surviving pet named in the trust.
It’s like a financial and caregiving plan specifically designed for your beloved companion.
The Benefits of a Pet Trust in Pennsylvania
Pennsylvania law recognizes companion animals as personal property. However, a pet trust allows you to go beyond this and establish your pet’s care as a legal obligation. A pet trust also brings:
- Peace of mind and comfort knowing your pet’s future is secure
- Financial security for your loved ones by ensuring they won’t shoulder the financial burden of caring for your pet
- Your pet’s guaranteed care and continued well-being
- It protects your wishes beyond Pennsylvania’s legal definition of companion animals as property
- Prevents uncertainty and potentially stressful court decisions
Having a compassionate pet trust attorney in Pennsylvania can increase the chances of you and your pet enjoying these benefits.
How To Create a Pet Trust Fund in Pennsylvania
Planning for your pet’s future can feel like a big step. You might have questions or concerns about the requirements. Here at Petrelli Previtera, LLC, we know through our work that creating pet trusts can be a smooth and empowering experience.
Our compassionate pet trust attorney will be by your side every step of the way, guiding you through the following:
- Discussing your pet’s needs – We’ll start with a heartfelt conversation about your beloved companion. This helps us understand their current and future needs, your preferences for their care, and any specific considerations.
- Naming a Trustee – Choosing a trusted individual to act as the trustee is crucial. This person will manage the trust funds and ensure your pet’s care is provided according to your wishes.
- Identifying the perfect caretaker – Choosing a trusted caretaker is a crucial part of the process. Our attorney will help you identify someone who understands your pet’s personality and shares your love and commitment to their well-being.
- Establishing financial security – We’ll determine the appropriate amount of funding to allocate to the trust. This ensures your pet has the financial resources needed for a comfortable and happy life.
- Drafting and finalizing your pet trust – Our attorney will translate your wishes and decisions into a legally binding document. It’ll clearly outline your pet’s care instructions and ensure your wishes are followed.
Creating a pet trust in Pennsylvania doesn’t have to be complicated. At Petrelli Previtera, LLC, we’ll guide you through this journey with understanding and respect. Together, we can create a plan that provides peace of mind and ensures your pet’s future is filled with love and security.
Funding a Pet Trust Fund in Pennsylvania
A pet trust in Pennsylvania provides peace of mind knowing your beloved companion will be cared for even after you’re gone.
However, how do you fund this trust? How Much is Enough?
Under UTA Title 20 § 7738(c), Pennsylvania law requires the trust amount to be “reasonable in the eyes of the court.” This means funding should cover your pet’s care and maintenance throughout their lifespan.
There are several ways to fund your Pennsylvania pet trust:
- Lump sum transfer from your account into the trust after creating it
- Life insurance beneficiary
- Regular deposits, such as a monthly transfer
- Transferring ownership of investment accounts to the pet trust
- Designating a specific amount or a percentage of your estate to the pet trust
Our compassionate pet trust attorney at Petrelli Previtera, LLC, will guide you through the entire pet trust funding process. We’ll help you determine the most suitable method based on your circumstances, estimate your pet’s financial needs, and ensure your trust adheres to Pennsylvania law.
The Cost of Creating a Pet Trust in Pennsylvania
The initial cost of creating a pet trust in Pennsylvania typically falls between $1,500 to $3,000. This covers legal advice and the preparation of the trust document.
There may be ongoing fees associated with managing the trust, such as annual trustee fees and potential tax preparation costs.
At Petrelli Previtera, LLC, we are committed to making pet trusts accessible to all loving pet owners. We offer competitive rates and transparent fee structures, so you’ll always know exactly what to expect.
Frequently Asked Questions
Do I need a pet trust attorney in Pennsylvania?
While not mandatory, it’s highly recommended. An estate planning attorney can help you create a pet trust and ensure a legally sound and enforceable document.
What documents do I need to create a pet trust in Pennsylvania?
There’s no specific document required. A qualified pet trust attorney will draft a legally binding trust document outlining your wishes and instructions for your pet’s care and finances.
Is a pet trust subject to taxes in Pennsylvania?
Yes. According to Section 9111 of Pennsylvania’s Inheritance Tax statute, any funds placed in your pet trust will be subject to the 15% Pennsylvania Inheritance Tax. The pet trust is also subject to income taxes as they aren’t considered charitable trusts in Pennsylvania.
How long does a pet trust in Pennsylvania last?
Pennsylvania UTA Title 20 § 7738(a) explicitly states that a pet trust remains active until the death of the last surviving pet named in the trust.
How to Find a Pet Trust Attorney Near Me
We understand that planning for your pet’s future can feel overwhelming. You want to ensure they’re cared for with love and compassion, just as you do. A pet trust attorney can guide you through the process and create a personalized plan that reflects your wishes.
To help get started, here are the top qualities to look for in a pet trust attorney in Pennsylvania:
- Experience – Seek an attorney with a proven track record in drafting pet trusts and familiarity with Pennsylvania’s pet ownership and trusts laws.
- Compassion – This is a deeply personal matter. Choose a pet trust attorney who understands the emotional aspects of pet ownership and can guide you with sensitivity.
- Communication style – Ensure you feel comfortable openly discussing your wishes and concerns with the attorney.
- Availability and accessibility – Consider an attorney whose availability and accessibility with your needs and preferences. They should be readily available to answer your questions and address any concerns you might have throughout the process.
- Cost transparency – Ask about the attorney’s pricing structure and whether they offer a flat fee for pet trusts or if they bill by the hour. This will help you budget for legal services and avoid any unexpected costs.
Here’s where Petrelli Previtera, LLC can be the perfect fit for you. Our compassionate and knowledgeable pet trust attorney understands the deep emotional bond you share with your companion pet. They’ll ensure your trust is legally sound and guide you with sensitivity throughout the trust planning process.
Your Trusted Pet Trust Attorney in Pennsylvania
Knowing your cherished pet will be cared for with love and compassion, even after you’re gone, is an incredible gift. A pet trust allows you to do just that. It’s an investment in your pet’s future and peace of mind.
Ready to give your pet the security they deserve?
Contact Petrelli Previtera, LLC today at 281-784-3119 to schedule a consultation. Our Pennsylvania pet trust attorney will guide you through every step, ensuring your wishes are met and your pet’s well-being is protected. We’re here to help you create a future filled with love and security for your cherished companion.