Lots of people in New York have a pet that they really love. It is a concern for many, then, what will happen to the pet after they die.

Since they are not people, pets cannot inherit anything directly. That means if you were to leave Fluffy, say, $50,000 in your will, a court would declare that bequest invalid.

One option that pet owners have is to create a pet trust. A pet trust is basically a trust set up to provide for the benefit and welfare of an animal. For the most part, it isn't any different than any other trust -- a trustee is identified, assets are transferred to the trust and the trustee is instructed to use the funds in a certain manner (in this case, for the animal's well-being.)

Pet trusts may be a better way to provide for a pet after you have gone than other estate planning means. Simply asking a friend or relative to take a pet carries no legal obligation, of course, and as we said, wills cannot be used to transfer property to pets.

Pet trusts fly here in New York, but they are not valid in other states, like Minnesota, Vermont and West Virginia. That pet trusts work in some places and not others speaks to the fact that our society has not quite yet come to consensus on how to best provide for pets after an owner's death.

If you are concerned about what will happen to your pet, it may be a good idea to speak to an attorney about the matter so you can become better informed about your options.

Source: The New York Times, "The Pet Problem," Alyson Martin and Nushin Rashidian, Feb. 3, 2012