Estate Planning and Your Pet
Your pet is an important part of your family and there is no reason your pet should not be included in your estate plans. From who will take the animal into their home to specific care wishes, there is some very important information that you can include within this documentation to ensure your pet is okay even after you have departed.
Careful Consideration
Drafting an estate plan is not a process that should be performed in hast. It is best to sit down and take your time. You love your animal, and your friends and family may too. However, love does not always translate into an ability or desire to take care of the animal.
You want to think long and hard about who you will leave the animal in the care of to ensure the individual is prepared. Keep in mind; an attorney can also help you draft a plan that includes the animal being given to an organization that cares for animals. However, you will need to discuss this plan with the organization first.
Monetary Guidelines
The law allows for the inclusion of a pet in a will, but it does have monetary guidelines as to how money is granted to an animal. First, legally, you cannot leave money, property, or any other asset to the animal. These items can only be passed to another person or entity.
However, you can leave money for the care of the animal. For example, if someone wills their dog to their brother, they can leave a trust with funds to their brother to be used for the sole purpose of caring for the animal.
Care Plan
The primary reason to include your pet in your plans is to outline a care plan. Within the will, you can define every aspect of the pet's care, such as the type of diet they follow. You can also include guidelines for their living environment.
However, unlike some other assets — the court will not manage them. For example, the court will not check in to ensure an animal is being fed per the terms of the will. For this reason, you should have a conversation about your plans with the person you leave your pet to, to ensure they will honor your wishes.
An estate planning attorney is able to help with all your needs no matter how minor you perceive them to be. Schedule an appointment to sit down and discuss your needs.