About this episode
Your dog might run your home, your heart, and your schedule, but legally, he’s still property.In this episode, Jill explores how to make sure your beloved pets are cared for after you’re gone. From Diane Keaton’s rumored estate plan for her dog, Reggie, to Jill’s own story of Oliver—the “best dog in the universe”—this episode walks through what pet trusts are, how they work, and how to decide if you need one.What You’ll Learn in This EpisodeWhat a Pet Trust Is. A legal arrangement that sets aside money for your pet’s care after you die. You name a trustee to manage funds and a caretaker to look after your pet.Why Pet Trusts Exist. Under the law, pets are considered property, not people, so they can’t directly inherit money. A pet trust bridges that gap.How a Pet Trust Works.You (the settlor) create the trust during life or through your will.You name a trustee (manages the funds) and a caretaker (provides day-to-day care).You decide how much to set aside and how detailed to make your instructions, down to your dog’s diet, vet, and favorite toy.Real-Life Examples.Leona Helmsley left $12 million to a trust for the benefit of her dog, Trouble. A court reduced that amount to $2 million.Headlines suggest that Diane Keaton’s estate plan may include a pet trust for her dog, Reggie.Cost-Benefit Perspective. Not everyone needs a formal pet trust. For some, sharing a completed Pet Information Sheet with a trusted friend is enough. The goal is to do what’s appropriately protective for your life stage—not necessarily the “perfect” plan.Resources & LinksDownload the pet information sheet here. Check out our recent episode: Why you need (or don’t need) a WillConnect with Jill:Website: DeathReadiness.comEmail: jill@deathreadiness.comLearn more about Jill’s servicesSubscribe to the Death Readiness Dispatch!Submit a question for Tuesday TriageDid you enjoy this episode? Share it with someone you care about.
This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fidu
