A pet trust is a trust that provides money and care for your pets when you can no longer do so. The trust can operate either during your lifetime or after your death. While usually people create a pet trust as part of their estate planning, in some cases a pet trust can be useful if you’re incapacitated or otherwise unable to care for your pet.

Like all trusts, a pet trust is a legal entity that owns property, money and other assets. You fund the trust by contributing assets to it during your lifetime and by leaving assets to the trust in your will. Your pet is the beneficiary of this trust. Once the trust activates, the trustee in charge will use its funds to pay for your pet’s food, housing and other care. In most cases this means that someone has taken possession of your pet and the trust is reimbursing their costs.

If you want to make sure that your pet is well cared for after you die, most lawyers consider a pet trust better than a will. Pet trusts are more specific than just leaving your pet and some money to an heir. With a pet trust your trustee makes sure that this money really is spent on your pet’s well-being. They can also find a new home for your pet if your heir changes their mind and chooses not to inherit the animal.