Theresa Harrington of the Contra Costa Times has written about groups that encourage estate plans for pets. These are often referred to as Pet Trusts or may be included in a will with language that creates a testamentary Pet Trust.
She has found that it is suggested that $10,000 – $15,000 a year be set aside for the care of one’s pet.
“Most people think some relative will take them. Sometimes they do, and sometimes they don’t. She quotes, “From working in animal rescue, I see what happens to animals when their owners die. Approximately 500,000 pets are euthanized nationwide every year because they have gone into shelters when their owners passed away and homes couldn’t be found for them.