For many people, pets are extended members of the family that are considered in estate planning to the same level that people are. Setting up a trust fund for your pets ensures that they will be properly taken care of long after you are gone. In fact, this type of Arizona trust can give you peace of mind in knowing that there is a plan in place for your beloved pet.

A number of famous people have done this. For instance, hotel magnate Leona Helmsley famously left $12 million to her dog, Trouble. Gail Posner, a Miami socialite, left $3 million in trust for her Chihuahua, her Maltese Terrier and her Yorkie. Fashion design guru Alexander McQueen committed suicide in 2012, leaving $16 million for the care of his two dogs. Even Oprah Winfrey has a trust for her dogs should they live longer than her; the trust is reportedly worth roughly $30 million to ensure that Oprah’s dogs are well-cared for should she pass.

Setting up an Arizona trust for your beloved pet is not as complicated a process as you may think. The first step is setting up the trust account initially, so that you can then divert the funds accordingly. Then, the process is simply a caveat you must stipulate in your Arizona trust account, generally set up through your attorney of record. You indicate what percentage of your financial assets you would like to allot for the care of your pets and include it in the Arizona trust paperwork. You can also include this information in your final will document, if you have one, to ensure that your loved ones understand why these funds are earmarked in the name of your pets. You must also designate an executor to handle this part of your trust to ensure that whatever process you’ve indicated should be in place to facilitate the care occurs smoothly and efficiently.

An Arizona trust for your pets will ensure their comfort and happiness should something happen to you while they are still under your care. After all, they have provided you with years of loyalty and love; it seems a small price to pay to earmark funds in your estate that offer them a certain level of protection and continuing care during a time when they, too, will be grieving the loss of their beloved owners.

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