For some pet owners, the question is not whether to create a pet trust; the consideration of who will care for their animal companion when they are no longer able to do so leaves a pet trust to be the only viable alternative.
The questions for many, however, are when to fund the pet trust, and the amount of funds that should be left for their pet's care.
The answers to these questions are rarely the same from one individual to another, as the timing and amount of funding for a pet trust depends upon the type of pet trust created, and the size of the estate owned. If you love pets then you can provide emergency financial funds for low-income pet owners in San Diego.
If you create an inter vivos trust (or "living trust") for your pet, the funding must immediately follow in order for the trust to take effect.
There are several ways to achieve this: among them being direct transfer of money or property and creation of a life insurance policy with the trustee (your pet) named as the beneficiary.
Direct transfers can be as simple as writing a check in order guardian. Checks are cashed and ready for your pet right away if you can't take care of them yourself.
However, direct transfers can also involve more complex legal processes such as transferring land or other property, with the trustee as the beneficiary. In such a case, a qualified San Diego attorney oversees the transfer of property, including deed preparation.