GATEWAYS

  Pet Trust Primer Those of us who think of our companion animals as family members are aware of our responsibility to these dependent creatures. It is important to make sure that their care and comfort continue uninterrupted should we become incapable of caring for them ourselves. One way to plan for that contingency is to set up something called a  pet trust . To help you decide if this may work for you, here are some basic definitions and guidelines to keep in mind:   What is a Pet Trust? A pet trust is a legally sanctioned arrangement providing for the care and maintenance of one or more companion animals in the event of a grantor’s disability or death. The “grantor” (also called a settlor or trustor in some states) is the person who creates the trust, which may take effect during a person’s lifetime or at death. Typically, a trustee will hold property (cash, for example) “in trust” for the benefit of the grantor’s pets. The trustee will make payments to a designated ...