Americans love their pets. Arizona and forty-one other states authorize the creation of a trust for the benefit of animals. The purpose of a pet trust is to provide funds to pay for the care of pets after the death or disability of the trustmaker(s). Pet trusts usually provide that when the last animal dies, the balance of the funds allocated to the pet trust goes to loved ones or to charity.
I prepare pet trusts for my Arizona estate planning clients who want to insure that their pets are cared for. Most of the time pet trusts are created as part of a revocable living trust.