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Ford + Bergner LLP > Blog > Estate Planning > How Diane Keaton’s $5 Million Pet Trust Highlights the Importance of Pet Estate Planning in Texas
How Diane Keaton’s $5 Million Pet Trust Highlights the Importance of Pet Estate Planning in Texas

How Diane Keaton’s $5 Million Pet Trust Highlights the Importance of Pet Estate Planning in Texas

How to make sure your beloved companion is cared for after you’re gone

When headlines surfaced that actress Diane Keaton reportedly set up a $5 million trust for her dog, Reggie, the internet had a field day. Some people were surprised — others totally understood. After all, our pets are more than animals; they’re family.

While Keaton’s trust might sound extravagant, her decision highlights something every pet owner should think about: What happens to your pets if you’re not around to care for them?

At Ford + Bergner PLLC, we’ve helped countless Texans plan for the people — and pets — they love. Here’s what you can learn from the Hollywood headlines and how to make sure your furry friend is safe, happy, and cared for no matter what the future brings.

Pets Can’t Inherit — But They Can Be Protected

Under Texas law, pets are considered property. That means you can’t just “leave” money directly to your dog, cat, or cockatoo in your will. But don’t worry — there’s a smart, legal way to make sure your pet is taken care of: a pet trust.

A pet trust allows you to:

  • Name a caregiver who will look after your pet.
  • Set aside funds specifically for your pet’s food, vet bills, grooming, and other needs.
  • Provide detailed instructions about your pet’s care (from favorite treats to medical routines).
  • Designate what happens to any leftover funds once your pet passes away.

Think of it as your way of ensuring your pet’s quality of life continues — even if you’re no longer there to provide it yourself.

Be Realistic About Funding

While a multimillion-dollar pet trust grabs headlines, the amount you set aside should reflect your pet’s actual needs. Consider their life expectancy, health, and lifestyle. A few thousand dollars might be plenty for one pet, while another with special medical needs could require more.

The key is to make it reasonable — enough to truly care for your companion, but not so large that it causes family conflict.

Choose the Right People

A pet trust is only as good as the people you choose to carry it out. You’ll need:

  • A trustee to manage the funds responsibly.
  • A caregiver who genuinely loves animals and is willing to take your pet in.
  • (Optional) A backup for both roles, just in case your first choice can’t serve.

Having these people lined up ensures your plan will work the way you intended.

Include Your Pet in Your Overall Texas Estate Plan

If you already have a will or trust, great — now’s the time to make sure your pet is part of it. You can:

  • Add a pet trust to your estate plan.
  • Update your will with pet-care instructions.
  • Review your documents every few years as your situation or your pet’s needs change.

Your estate plan should reflect your entire family — two-legged and four-legged alike.

The Bottom Line

You don’t have to be a Hollywood star to make sure your pet is protected. With the right plan in place, you can rest easy knowing your loyal companion will be cared for exactly as you wish.

Whether you’re setting aside $5 million or a modest fund for your pet’s care, the important thing is to plan — before it’s too late.

Ready to Protect Your Pet’s Future?

At Ford + Bergner PLLC, we help Texans design estate plans that reflect their values — including the love they have for their pets. Our experienced attorneys can help you create a legally sound, practical plan that keeps your furry family members safe and cared for.

In Need of Legal Help? Contact Ford + Bergner LLP today

Contact the experienced lawyers at Ford + Bergner LLP today & schedule your free consultation. We proudly serve Houston, Austin, Dallas & all throughout Texas. Visit our law offices at:

Ford + Bergner LLP – Houston Office

700 Louisiana St 41st Floor,
Houston, TX 77002, United States

Phone: (713) 260-3926
Fax: (713) 260 3903

 

Ford + Bergner LLP – Dallas Office

901 Main St 33rd floor,
Dallas, TX 75202, United States

Phone: (214) 389 0887
Fax: (214) 389 0888

 

Ford + Bergner LLP – Austin Office

221 W 6th St #900,
Austin, TX 78701, United States

Phone: (512) 610 1100
Fax: (512) 610 1101

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