Estate Planning for Pets

Often a pet is a cherished member of the household. If that is the case, you might want to include the pet in your Estate Planning strategy. This is particularly true of single people or owners of unusual or exotic pets that the heirs of the property estate are unable or do not wish to care for.

There are several layers to estate planning for a pet.

You must prepare for the care of the pet in case you are unable to. That means locating someone who is able and willing to care for the pet for an indefinite time. With most pets, this could be a neighbor who has access to the house and is willing to stop by, check on the pet, and provide food and water. With other pets, this could mean taking the pet into the caretaker’s home.

You should clearly identify the pet on a sheet of paper or a card, and include a photo of the animal. Detailed instructions of how to care for the pet also should be included. Identify the vet you use, feeding, medications, and any behavioral traits of the animal. For pets that need particular physical accommodations, these also should be described.

Your pet also needs a living will, prepared by you. This describes how much care you want the vet to provide in different circumstances and when you would want the pet either to be euthanized or kept alive.

Pets are treated as tangible personal property under the law. That means whoever has a durable power of attorney over your estate in case you are incapacitated also has power of attorney over the pet. That person should know about the person you have arranged to care for the pet in case of an emergency. Or if the power holder is not willing to make arrangements for the pet, a second document covering only the pet can be prepared.

One document to consider is a pet trust. Several states recognize pet trusts. The individual creates a trust, and the trust funds are used to care for the pet. A third party must be named who can ensure that the trustee is complying with the trust and is willing to enforce the trust under the state’s law.
Many other states do not enforce pet trusts. In these states, there usually is a trust that can be established that, with the right terms, will ensure that the pet is cared for. You will need to work with an estate planning professional who knows how to handle this issue in your state.

It would be ideal if a family member could be counted on to care for a beloved pet as you desire. But that isn’t always the case. So, the pet must be included in the estate plan.