Estate Planning for Your Other Children – Your Pets

When we die or become incapacitated, the strategic planning we’ve put in place to provide for loved ones goes to work. The important things will be taken care of.

Our bills continue to get paid, out investments continue to grow for future generations, and any minor children are cared for by loving guardians.
It seems like we’ve thought of everything, but some of us risk forgetting about our very dependant four-legged family members.

What Happens to Fluffy and Spot?

Some pet owners never consider who will care for their furry companions after they die or if they become disabled or seriously ill. Many assume a relative or good friend will step up to the task.

That’s an unwise assumption on the owner’s part and one I’m sure Fluffy and Spot might especially take issue with.

Every year, the Society for the Prevention of Cruelty to Animals (SPCA) takes in a number of animals whose owners passed away. Usually a family member or neighbor drops the animals off. Most apologize and say that their loved one or friend made no plans.

Once cared for and loved, these animals have no home. Many will likely be euthanized.

Even Pedigrees Won’t Protect Them

Here’s one vivid example from an SPCA brochure that illustrates the need to make better plans:

One day a group of seven pedigreed dogs were dropped off at an SPCA: two Whippets, two Irish Setters, two Toy Fox Terriers and a Chihuahua. They came with AKC papers, newspaper clippings from when they were purchased, complete family trees and a thick file of medical records.
It was obvious their owner loved and treasured them, but when she was diagnosed with cancer she did not make plans for their care after her death. There was no chance that all these dogs that were raised together would be adopted to the same home.

A little planning today can help your pets avoid a similar fate.

Making Better Plans for Pets

Here’s a checklist to help you plan for your pets:

• Identify and designate someone (and at least one alternative) to assume ownership for the pets.
• Keep in touch with this person to ensure they are still willing, especially if a pet has special needs.
• Carry a “pet alert” wallet card listing names and phone numbers of the pet’s emergency caregivers.
• Authorize payments to provide food, veterinary care, grooming, exercise, socialization, etc.
• Use language in any documents that refers to “pets” rather than names to ensure no newly added pets will be left out and there is no need to update documents.
• Name a Trust Protector to oversee a pet’s new owner and any funds set aside for the pet’s care.
• Ask an attorney how to include language that will protect the pet in estate planning documents.

There are additional considerations to make, including deciding the criteria to be used to determine when it’s time to euthanize a sick pet, who will make the difficult decision and how that pet’s remains should be disposed.

I hope this article helps you and your family. As always, if you have any concerns or a specific case you’d like to discuss, call our office.

Tagged as: Estate Planning, Family, Pets, Trusts