Both Arizona and Colorado have statutes regarding Pet Trusts.
Arizona Statute Section 14-10408 provides: A trust may be created to provide for the care of an anima alive during the settlor's lifetime. The trust terminates on the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, on the death of the last surving animal.
Colorado Statute Section 15-11-901(2) Trust for pets. A trust for the care of designated domestic or pet animals and the animals' offspring in gestation is valid.
So what kind of things can or should be included in a pet trust?
1. Caretaker and a respite caretaker. It may be a good idea to have an alternate caretaker too in case the person you designate if for some reason is unable to take on this roll.
2. Finacial planning. How much do you spend on your pet(s) a month, year. You will want to make sure there is enough funds to cover all the expenses.
3. Care requirements.
4. Trustee-The person who is going to have financial responsibility. This does not need to be the caretaker.
5. Care of the pet if trustor is incapacitated long-term.
6. Devisee upon last pet's death.
(None of this is meant to be legal advise and is informational only)