If you’re a pet owner, you know they aren’t just property - they’re a part of the family. So, if you’re curious how to best provide for your family after you die or if you become incapacitated, it makes sense for your beloved pet to be a part of the plan.

If you're reading this article, naturally you want your pet to continue to have the kind of love and care they’ve had during your life, but estate planning for pets requires a little more thought than you might expect.
 
To understand why, it’s important to know two things:

●         A pet is considered property under the law (no different than a couch or piece of jewelry); and

●         When someone receives a gift of property through a Will, that person can do whatever they want with that property, including your pet.

A Will Won’t Cut It

While you see them as part of the family, under the law, a pet is considered personal property, just like your money, furniture, and clothes. As a result, you can’t actually leave money or possessions to your pet directly through your Will or Trust. Even if you try to leave money directly to your pet in your Will, the money will instead skip your pet and pass to the beneficiaries you named to receive the remainder of your possessions. If you didn’t name anyone specifically, the court will give your possessions, including your pet, to your next of kin, as determined under the law.

Worst of all, the person that receives your pet and money for its care through your Will has no legal obligation to use that money for your pet’s care or to even keep your pet at all. That’s why it’s important to work with an estate planning attorney who knows the proper way to plan for your pet, so that when you die or if you become incapacitated, your pet and loved companion won’t end up in an animal shelter or given away to someone who won’t care for them as you would have.

A Will Provides No Guarantees For Their Future

Because you can’t leave money to your pet directly, your first thought might be to leave your pet and money for its care to someone you trust through your Will instead. While this is an option, it’s not guaranteed to work.

That’s because the person you name as the beneficiary of your pet in your Will has no legal obligation to use the funds you leave for your pet’s care for that purpose. Even if you leave detailed instructions for your pet’s care, there is no law holding the beneficiary to accept the responsibility of caring for your pet or stopping them from changing their mind in the future after the court probate process is finished. 

You might be thinking that the person you’d leave your pet to loves them and would never think of abandoning them. But even if this person is committed to caring for your pet, it’s simply impossible to predict what circumstances might occur in the future that could make it impossible for them to provide for your pet for your pet’s full lifetime.

For example, when you die, the new caregiver might:

●         Live in an apartment or condo that doesn’t allow pets

●         Suffer from an unforeseen illness that makes it difficult to care for your pet

●         Have an allergy to your pet you knew nothing about

●         Become so busy with work or family that they just don’t have the time to make a lifelong commitment to your pet’s care

A Will Isn’t Fast Enough

The other issue that must be considered is time. A Will is required by law to go through the court process known as probate before any of your property can be distributed to the people you’ve named, and of course, it only operates in the event of your death, not your incapacity.

The probate process itself can take months or even years to complete. During that time, your pet could be passed around between family members and friends, who may even argue over who should care for it. In the worst-case scenario, no one may even think to check in on your pet immediately after something happens to you, or to properly care for your pet regularly while the court process is unfolding.

Plus, a Will only goes into effect upon your death, so if you’re incapacitated by accident or illness, it would do nothing to protect your companion. This leaves your pet in limbo and vulnerable to going to someone you would not have chosen or wanted to care for your pet. In the worst scenario, your pet could be surrendered to a shelter by the time everything gets figured out.

Provide Long-Lasting Care for Your Pet Through Your Trust, or Even a Pet Trust

My typical recommendation for pets is to include a specific distribution in your Trust for your pet and a list of people who you trust to properly care for your pet. I also recommend that you leave those individuals with a specific amount of money to properly care for them for the rest of their life, so they don’t feel financially burdened and will be provided enough money to care for them in the way you would have. Yet, if you feel like it is necessary for your “best friend,” or you have a pet or an animal that is extremely expensive to care for (such as a horse), or that will live an exceptionally long time (certain birds), you may want to consider a Pet Trust.  In order to be completely confident that your pet is properly taken care of and that the money you leave for its care is used exactly as intended, feel free to reach out and ask us to help you create a Pet Trust.

By creating a Pet Trust, you can lay out detailed, legally binding rules for how your pet’s chosen caregiver (the trustee) can use the funds you leave for your furry friend. Also, unlike a Will, if you put a provision in your Trust or create a Pet Trust, they don’t need to go through probate. So, your wishes will go into effect immediately in the event you become incapacitated or pass away if you have a Trust in place.  Yet, on the other hand, a Will requires the court process called probate to take place before any decisions can officially be made about your pet. This will take time and can lead to problems in ensuring that your pet is properly care for and that your wishes are followed.

Additionally, in your Trust or a Pet Trust, you can name backup caretakers or trustees who will receive your pet and any funds left for them if the first person you chose declines to take your pet, or isn’t able to care for them in the future. To add even more certainty to your pet’s future, you can name multiple caretakers / trustees for your pet.  If you do, you'll have two people invested in the care of your pet to ensure they are cared for properly.   

Finally, in the event of your death or incapacity, all of the care decisions and financial distributions for your pet that you have put in place will be disclosed to your chosen caretakers in the privacy of our office. We’ll guide your decision-makers about how and why you made your decisions, and how they need to care for your pet to receive distributions. You’ll have your personal family lawyer to assist in ensuring the care of your pet happens as you would have wanted it based on your wishes.  And, while that may seem excessive for some, we have many clients who care that much about the well-being of their pets and want to ensure their care is handled as they want.

Do Right By Your Pet

My dog (Jameson Leroy Brown, who is pictured above) is my best friend and I understand how important it is to ensure that a member of the family is well-taken care of. If you feel the same way, my advice is not to leave your pet's future up to chance. Let us help you create a Trust for yourself, or even a Pet Trust, that will provide for your furry friend's long-term care and be there for your pet and your decision-makers when you cannot be.

At our firm, we can help you create a legally binding Trust, or Pet Trust, that will outline detailed rules for how your pet's chosen caregiver can use the funds you leave for their care. Unlike a Will, a Trust doesn't go through probate, which means it goes into effect immediately if you become incapacitated or pass away and we will be there for the people you love when you cannot.
 
Contact us today to schedule a consultation and ensure you're doing right by your pet.

This article is a service of Family Wealth & Legacy Legal Solutions (FWLLS). We do not just draft documents; we ensure you make educated, informed and empowered decisions for yourself and the people you love. That's why we offer a Family Wealth & Legacy Strategy Session™, during which you will get educated and begin to prepare to avoid life’s most common legal problems and get a plan in place to make the best possible choices for the people you love. You can begin by calling our office today to schedule a Family Wealth & Legacy Strategy Session and mention this article to find out how to get this $750 session at a significantly discounted rate, or even for free.