Media mogul Oprah Winfrey has a trust fund for her dogs, as revealed in 2007 by a source to an Australian women’s magazine. How much she left to her beloved animal companions is thought to be in the millions, according to a recent article from Pets Radar, “Oprah’s dogs will inherit a $30 million fortune—here’s why.” However, you don’t need to be a billionaire to want to care for your pets after you pass using a pet trust.
A pet trust is a legally binding contract used to specify money to care for a pet in case of incapacity or death of the human owner. The trust is funded to care for the animal’s life and should include specific instructions for how the pet will be cared for. An experienced estate planning attorney can create a pet trust to comply with your state’s laws.
When creating a pet trust, consider how much money will be needed to pay for the pet’s care, considering the type of pet, their age, life expectancy and whether they have or might have health issues in the future. If you own multiple pets, the pet trust must address all their needs.
The funds are used to cover veterinary bills, food, grooming, housing and compensation, if needed, for a caretaker. The trust will also need to include a contingency provision in case the primary caregiver becomes incapacitated or can’t care for the pets and someone else needs to step into the role.
The pet trust should also include plans for what happens when the pet dies. Do you want them to be cremated or buried, and what do you want to happen to any remaining funds in the trust? The people who love their pets enough to create a pet trust often decide to leave any remaining funds in the trust to a local animal shelter.
A common question in creating a pet trust is this: should the same person who is taking care of the pets also oversee the assets in the trust? The trustee oversees the assets and pays the caretaker. The problem is, if the caretaker doesn’t use the funds to care for the pet as you’ve outlined in the trust, who will monitor the money or the care of the pet? Many people prefer to have two different people involved, just in case.
Can you simply ask an adult child to take care of your beloved pet if you become sick or if you die before the pet? In theory, the answer is yes. However, your adult child or anyone you ask to care for your pet is under no legal obligation, unless you’ve created a pet trust and they’ve agreed to take on the role of either caretaker or trustee or both.
If you don’t have someone to care for your pet, check with your local animal shelter. No-kill shelters often have arrangements where a fee or donation is used to ensure lifetime pet care for a companion animal.
Your estate planning attorney will know how to create a pet trust to care for your pets after you pass, providing you with the peace of mind knowing they won’t end up in a shelter or living on the streets. If you would like to learn more about pet trusts, please visit our previous posts.
Reference: Pets Radar (April 4, 2025) “Oprah’s dogs will inherit a $30 million fortune—here’s why”
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