(News Enterprise) For many people, sharing life with a pet is a joy. Both for those who are natural caregivers and for those who need the companionship of another living creature, pets can bring a sense of being needed. However, consideration of pets often is overlooked when preparing for incapacity and death.
When preparing a last will and testament or trust, the types and needs of specific animals should be considered carefully. Passing the responsibility of small indoor house pets is vastly different from asking someone to take barnyard animals, such as “pet” horses or goats.
Think about potential future caregivers for your animals and be realistic about both their desire and their ability to take your pets.
Does the person have a natural inclination toward animals? What about his or her spouse or other people living in their home? Does the individual have allergies that would pose a health risk or simply make him or her miserable?
Another major consideration is whether the potential caretaker already has animals. In one regard, passing pets to someone without other animals may be easier to acclimate. However, that individual also may not realize the time and expense associated with pet care. Especially if the individual enjoys traveling, you should discuss whether the pets would travel with them or be boarded for long periods of time.
Finally, determine whether the individual has the space available to properly care for your animals.
The proper place to include specific instructions for pets is within a last will and testament or a trust. Instead of naming specific pets, which may not outlive you, use broad language to include any pets you may have at the time of your death. You also may leave bequests by category of pets; for example, you may choose to give your house pets to one person, but horses to another.
Regardless of the type of animal, the cost of passing on pets should always be factored into the plan. Pets have regular expenses such as food, vet visits, grooming and boarding. Even for pets that are healthy at the time of your death, as the pets age, their care likely will become costlier. While many people may be willing to take on the care of another person’s pet, they may not have the ability or desire to take on a significant cost.
In order to ensure that your pet is well cared for, consider leaving money for the pet’s care in one of two ways. First, the easiest way is to leave an outright gift to the person who takes the pets.
Keep in mind, however, that there are some potential problems with this method. The only requirement for the additional money is that the new owner take the pets. After the new owner takes the pets (and the money), there is no guarantee that he or she will continue to care for your pet. Even those with the best of intentions could spend the money and later find that they cannot afford to continue caring for your pet.
The second option is to set up a simple pet trust within your will or trust, funded with enough money to care for your pets until the end of their lives. Money in the pet trust could be used to care only for the pets, and upon the last pet’s death, the trust would close and pay out to whoever you choose. This trust likely would be a simple bank account.
Owning a pet is a joy, but certainly is accompanied by costs and responsibilities. Be intentional about planning for your pet’s future to ensure that the transition to a new caregiver will succeed.
Cynthia Griffin is an elder law and estate planning attorney at Burnett and Griffin PLLC in Elizabethtown. She can be reached at cynthia@bcglawcenter.com.
