Because the law considers pets personal property and not human beings, pets cannot own property, and a pet owner cannot leave money or assets to a pet in a will or a trust. But a pet owner can provide for the care and well-being of a pet or pets in a traditional trust or in a statutory pet trust (authorized under a state’s statutes).

For example, the pet owner (known as the grantor, settlor, or trustor) will create a trust for a named pet or pets (the beneficiary or beneficiaries of the trust), place money or income-producing assets in the trust and name a trustee to manage and administer the trust for the benefit of the pet or pets, as provided in the trust agreement.

For a brief summary of each state’s pet trust laws and the state statutes where you can find them, copy and paste this URL in your internet browser: https://www.aspca.org/pet-care/pet-planning/pet-trust-laws

In New York, pet owners can create a trust specifically for the care of their pets after the owner's death or incapacitation, as pets are legally considered personal property and cannot directly inherit assets. New York's Estates, Powers & Trusts Law (EPTL) Section 7-8.1 allows for the creation of a trust for the care of a designated domestic or pet animal and the trust will continue for the life of the animal or 21 years, whichever is shorter. The trust can be enforced by a person appointed in the trust document or, if no one is appointed, by a person appointed by the court. The court may also reduce the amount of the property transferred if it determines that the amount substantially exceeds the amount required for the intended use. The remaining property, if any, will be distributed as directed in the trust document or, if no direction is given, to the estate of the grantor.