If you have pets, you know how much joy and excitement they can bring into your life. Whether your beloved animal friend is furry, feathered, scaly or slimy, you are grateful for the fun that you have together. You do the best you can to give them a good life. But what if you pass away while your pet is still alive? That’s a thought that could keep you up at night.
Fortunately, you have options to take care of your pets even after your death! Pet Wills and Pet Trusts are just a couple of the ways that you can make sure that your pets will be looked after in the future. You can use these estate planning documents to designate caregivers and set aside funds for their security. You can rest easy knowing that your estate plans ensure the nurturing love that your pets deserve.
Is this good news a load off your mind? That’s great, but you still might have questions about how exactly to go through the estate planning process with your pets as the priority. We’ve got answers to your questions, as well as some helpful insight from LegalShield provider lawyer Ashley Higginbotham with Deming Parker in Georgia. Read on to learn more!
LegalShield provider lawyer Ashley Higginbotham shares this somber insight about the importance of including your pet in your estate plans: “Including your pet in your estate plan ensures they’re cared for by someone you trust, rather than left to chance. Often overlooked, this step is crucial for cherished companions, as without clear directives, state laws could dictate their fate through a court-appointed administrator, potentially leading to an unsuitable placement.”
Dying without written wishes could mean that your beloved animal ends up in a shelter after your passing, instead of being cared for by someone you trust. We’ve all heard sad tales of sweet pets-in-need waiting for owners to adopt them out of shelters. They could even end up facing the possibility of getting euthanized if nobody comes for them. That’s why you want to prepare for the future as soon as possible.
First you want to consider the options you have for pet estate planning. You have a few to choose from:
It’s important for you to lay out your exact expectations for your pet. Consider these important details:
You’ll want to carefully select your pet guardian. Meet with the person face-to-face to ask if they agree to take responsibility. Put the agreement into writing and have the person sign it as well. Clearly state this person’s name and role in your legal documents so that everyone knows who is to act as caretaker.
You want to ensure that you follow state-specific laws regarding Pet Wills and Trusts. If the person who will be caring for your pet lives in a different state, make sure you know those state laws as well. We recommend that you speak with an attorney to help understand the rules in your area. Speaking with an estate planning lawyer is the best course of action to thoroughly know your rights and responsibilities as you go through this process.
As we previously mentioned, yes you can include your pets in your Will! In your Last Will and Testament, you can lay out exactly who you’d like to become the new owner of your animal friends, giving you the comfort of leaving your pets with someone you trust. Here are some steps to follow as you create a “pet clause” in your Will:
LegalShield’s dedicated provider law firms can help you with this! If you want to go a step further, as a LegalShield Member, you can retain your provider law firm for a discounted hourly rate and establishing your Pet Trust. Since you cannot legally enforce the proper care of your pet through a Will, a Pet Trust may be the way that you want to go.
When you designate a Trustee to manage your pet’s affairs, you enact a legally binding agreement by which the Trustee is obligated to abide. In a Pet Trust, you can name your beneficiary pets and give a specific person or party the responsibility to delegate your assets to your pets. In other words, you can decide who cares for your animal friends and what they do for them.
It’s important to set up a proper Trust to ensure your pet’s care is kept legal and above-board. Here’s why:
Luckily, caretakers designated in a Trust are legally obligated to treat your pet according to your wishes! Depending on the laws of your state, you may be able to designate an enforcer or protector to ensure that the Trustee is doing their due diligence.
Owners who want detailed control over their pets’ future care would prefer Pet Trust over a Pet Will. If you expect your pet to have a long lifespan or to need specific medical help, a Pet Trust is a great choice for you and your sweet companions. A Pet Trust also allows you to lay out plans for ongoing financial management, instead of just setting aside a chunk of cash like a Pet Will would let you do.
When setting up a Pet Trust Fund, you are simply leaving money for the care of your pet. How do you know how much money to set aside? Think about the amount of cash that you spend on your pet’s care each year, then multiple that by the amount of years that you think your pet will probably live after your passing. Designate this cash in your Pet Trust so that caretakers will know how much you have left to help them nurture your furry friend according to yours wishes.
You have a few different ways that you can set aside money for your pet:
As always, you will want to consult an estate planning lawyer to make sure you know the laws in your state for setting up a Pet Trust Fund.
Here are some fun examples of the care that animal owners have insured for their pet friends in recent years.
Clearly, these pets were near and dear to their owners!
Pets are legally considered personal property in many parts of the United States. That means that you need to designate your wishes for them just like you would designate your wishes for your furniture, cars, investments and more. So when naming who will take from your estate, make sure to name someone to receive your precious furry friend!
You may be asking, “Can I leave money or property for my pet to inherit?” While the answer is no, you can leave money and property for the Trustee to use as part of your pet’s care. Your estate plan can still protect and provide for your pet, even if they cannot directly receive an inheritance.
You want to give your pets your best, even after you are gone. What better way for you to do that than by preparing for their future in your estate plans? Pet Wills and Pet Trusts give your beloved animals the long-term security, financial support, and nurturing that they deserve for years to come.
Take action by consulting a LegalShield provider attorney for best estate planning practices. LegalShield Members can access their provider law firm for consultations, document review, assistance with letters and phone calls, and more essential legal services. We provide a Will questionnaire to help you start the Will prep process. Work with our provider lawyers to nail down the details and get your estate plans into ship-shape!
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Written and maintained by the LegalShield content team, covering legal and identity protection topics for individuals, families, and small businesses.
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