WHAT HAPPENS TO YOUR PETS WHEN YOU DIE?
If you have pets, my guess is that you love them as much as you do your children, but I’m also guessing that you have not provided any written or, better yet, legally documented instructions about what should happen to them, if you become incapacitated or when you die. If you have, read this article with an eye to ensuring you’ve checked all the right boxes for the beings you love. If you haven’t, read on because it’s time to take action, and we can make it easy for you to do the right thing by the pets you love.
Let’s start by looking at what happens if you become incapacitated or when you die, if you’ve done nothing to ensure the well-being and care of your pets. It may be that if you do nothing, one or more of your friends and family will step forward to take care of your pets. But, will the person who steps forward be the person you would choose? And, will they be able to easily afford to care for your pet, in the way you do?
QUESTIONS TO ANSWER ABOUT YOUR PET’S CARE IN YOUR ESTATE PLAN
Will they feed your pet the same food you do?
Will they be able to spend as much time and energy with your pet as you do?
Will they be able to offer your pet the same quality of life you do?
Do you care about these sorts of things?
If you do care, you do need to take action. You cannot just leave the well-being and care of your pets to chance. If you don’t designate at least one person, and ideally one person plus backups to care for your pets, and provide instructions to the people you’ve named, and perhaps also money to support the care of your pets, your pets could become a burden to your friends and family, or even be brought to the humane society. *Please remember not all shelters and humane societies are no-kill facilities.
STEPS TO PLAN FOR YOUR PET’S CARE IN YOUR ESTATE PLAN
So, step one in all circumstances is to legally name the people you would want to care for your pets, in the event you cannot. You should name these people in your will, and also in a “pet power of attorney” providing for your pet’s care in the event of your incapacity.
Step two is to give the people you’ve named specific instructions about how you want your pets to be cared for, if you cannot do it, including type and amounts of food, any medications needed, exercise plan, and any other special things you know about your pets that any caretaker should know.
Finally, step three is to consider whether you need to provide financial resources to care for your pets.
If your pet has any special needs, or if you want to provide funding for training, regular exercise, or a certain kind of food or care, it’s up to you to provide the financial resources to the people you’ve named to take care of your pets.
The way to provide funding for the care of your pets is through a pet trust.
PET TRUSTS OFFER PROTECTION FOR YOUR FURRY FAMILY
If you’re an animal lover and have a pet of your own, you likely consider your pet to be a member of the family. And since your furry friends can provide protection, emotional support, and unconditional love, such consideration is often well deserved. In stark contrast, the law considers your pet nothing more than personal property. That means that without plans in place, your pet will be treated just like your couch or vacuum in the event of your death or incapacity. For example, if you die without including any provisions for your pet’s care in your estate plan and none of your family or friends volunteer to take your pet in, your faithful companion will likely end up in an animal shelter.
While you can leave money for the care or your pet in a will, there will be no continuing oversight to ensure your pet (and the money you leave for its care) will be cared for as you wish, if you do it that way. Indeed, a person who is named as the guardian of your pet in your will could drop the animal off at the shelter and use the money to buy a new TV—and face no penalties for doing so. What’s more, a will is required to go through a court process known as probate, which can last for years and leave your pet in limbo during that entire time. And a will only goes into effect upon your death, so if you’re incapacitated by accident or illness, it will be useless for protecting your pet.
PET TRUSTS
Given these limitations, the best way to ensure your animal companions are properly taken care of in the event of your death or incapacity is to create a pet trust. Pet trusts go into effect immediately and allow you to lay out detailed, legally binding rules for how the funds in the trust can be used. Pet trusts can cover multiple pets, work in cases of incapacity as well as death, and they remain in effect until the last surviving animal dies.
Here are a few of the most important things to consider when setting up a pet trust:
CAREGIVERS
The most important decision when creating a pet trust is naming the caretaker. The caretaker will have custody
of your pet and is responsible for your pet’s daily care for the remainder of your pet’s life. As with naming a guardian for your children, make certain you choose someone you know will watch over and love your pet just as you would.
Consider the caretaker’s physical ability—naming someone elderly to raise your Great Dane puppy might be asking too much. Also make certain your pet fits in with the caretaker’s family members and other pets. Discuss your wishes ahead of time with a potential caretaker—never assume they’re willing to take on the responsibility.
In case your first-choice for a caretaker is unable to take in your pet, name at least one or two alternates.
If you don’t know any suitable caregivers, there are a variety of charitable groups that can provide for your pet if you’re no longer able to.
TRUSTEES
Trustees are tasked with managing the trust’s funds and ensuring your wishes for the animal’s care are carried out in the manner the trust spells out. Given the potential conflict of interest, you may consider naming someone other than the caregiver as trustee. In this way, you now have two people who are invested in the care of your pet—and money—are properly handled.
CARETAKING INSTRUCTIONS
At the very least, your caretaking instructions should outline your pet’s basic requirements: dietary needs, exercise regimen, medications, and veterinary care. Be sure you think about all of your pet’s future needs, including extra services like grooming, boarding, and walking. Beyond basic care, you can also lay
out instructions for just about any other special treatment you want your furry friend to receive. From sleeping arrangements and yummy treats to weekly visits to the park and favorite toys, a pet trust can provide Fido and Fluffy with whatever lifestyle you wish for them.
Finally, don’t forget to address what you want done at the end of your pet’s life, such as burial, cremation, or memorial services.
FUNDING
When determining how much money to put aside for your pet’s care, you should carefully consider the pet’s age, health, and care needs. Remember, you’re covering the cost of caring for the animal for the rest of its life, and even basic expenses can add up over time. But most pet owners want their beloved pets to receive more than just the bare necessities. Given this, make sure you carefully calculate the costs for any special treatments or services you include in the trust and leave enough money to pay for them. And if you end up leaving more money behind than needed, you can always name a remainder beneficiary, such as a family member or charity, to inherit any funds not spent on the pet.
DO RIGHT BY YOUR FURRY FAMILY
Consult with us as your Personal Family Lawyer® for help creating a pet trust. We can make certain that you have all of the necessary terms included in your estate plan to ensure your pet receives the kind of love and care it deserves when you’re no longer around to provide it. Contact us for more information.
HOW TO PLAN A “PET TRUST” TO PROTECT YOUR PET AFTER YOUR DEATH
I talked about what to take into consideration when you’re planning for your pet’s care, in the event of your incapacity or your death. Now,, I’m going to give you the steps to take in creating a pet trust to provide for your companion animal, or animals, if you cannot be there.
A WILL IS NOT ENOUGH
You might think that merely including a letter laying out the specifics of your pet’s care with your will is sufficient to provide care for your companion animals. However, you need to remember that the directions in your will won’t take effect until the estate is administered.
In the meantime, what happens to your pet? If there’s no provision for their immediate care, you may as well have just made an informal agreement, which is not enforceable.
TRUSTS LEAD TO PEACE OF MIND
When you have money in a trust for your animals, it gives their future caretaker the ability to fund their needs in exactly the way you want them to. A trust is a legal arrangement that dictates how your pet, or pets, will be cared for if you pass away before they do.
Currently, all 50 states plus the District of Columbia have pet trust laws, and most of them state that they can be created for the care of animals alive during your lifetime. (Some also allow you to make a trust for animals in gestation, like if your dog has a litter of puppies on the way). Many states specify that the trust will be enforced throughout the lifetime of the pet, though some may just have a set number of years.
NAME A TRUSTEE
While you should have a caregiver (or two!) listed, you should also hire a trustee to be responsible for administering pet-care funds. Giving the money to the beneficiary in a lump sum is not the best way to make sure your pet has what it needs throughout its life, even if their caretaker is well-intentioned. And remember—you’ll want to provide money to pay the trustee for the work they’ll be doing to manage the trust.
SPECIFICALLY IDENTIFY YOUR PET IN THE TRUST
You don’t want somebody running a scam to get the trust money that is meant for your pet. You can use detailed descriptions, photos, microchip numbers, and even DNA samples to make sure your pet, or pets, are easily identifiable by the trustee.
PROVIDE REALLY DETAILED INFORMATION ABOUT YOUR PET'S CARE
Previously I recommended you make a complete plan for your pet’s care, and I want to emphasize that it’s important to go through every eventuality. That means more than just day to day care. You also should try to set money aside for major vet bills, end-of-life care, and cremation or burial. You should also have a plan for what to do with any remaining trust money when your pet passes.
THINK CREATIVELY ABOUT FUNDING
If you’re worried you don’t have that much cash on hand to put into the trust, remember that you probably have other assets to draw from, too. That could include life insurance policies, annuity contracts, savings accounts, or money gained from the sale of physical assets.
Drawing a blank on possible pet care issues? Unsure what assets can help fund your pet trust? As your Personal Family Lawyer®, we can help you figure out the answer to any questions you may have about building a trust for your pet.
This article is a service of Tanika L. Finney, Personal Family Lawyer®. We do not just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Peace of Mind Planning Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Peace of Mind Planning Session and mention this article to find out how to get this $347 session at no charge.
The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer firms®, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.
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