Did you know that thousands of dogs and cats are orphaned or euthanized each year after their owners pass away because no plans were made for their pets? What will happen to your dog, cat, bird, or other fuzzy companion if something happened to you?

Identify a caretaker for your pet

The most important question to address is who will care for your pet. Think about this question carefully because the people you are closest to may not be the best choice to be a pet owner.  Not everyone is a “pet person”.  Think about how you want your pet cared for and who would have the time, energy, and other resources necessary and does the person you are thinking of share in your philosophy of pet care?

When you have identified someone, ask them if they are willing to take on this responsibility. No one wants to be the surprised beneficiary of a fuzzy or feathered friend.  Discuss your plans with the potential caretaker so they can make an informed decision.

Planning for pet care

It is important to assign ownership of your pet in your will or trust. Otherwise your little furry friend will likely go to one of your beneficiaries listed in your will/trust and that may not be the right person.  The person who agreed to take responsibility should be named in the document along with any assets you want to leave to that person to help with the expenses of caring for the animal.  You can assign your pet with one person and the money to another person with instructions on reimbursing for pet-related expenses.  Unfortunately, specific instructions for pet care and disbursement of specific monies contained in your will are not enforceable.  So if you want specific provisions for your animal, you will need a legal document called a pet trust.

Pet Trust

Pet trusts are legal in all 50 states and are written so they take effect when the pet owner dies. The trust addresses the care of one or more animals and the trust ends with the last surviving animal dies.  In the trust you can specify:

• The new owner of the pet (caretaker)
• The person who will handle the finances for your pet (trustee)
• What expenses the trustee will reimburse to the caretaker
• Specific instructions and the type of care your pet will receive
• What will happen in the event the caretaker can no longer keep the animal

Pet trust tend to be very detailed and owners often specify things like favorite foods, toys, and sleeping arrangements. The amount of money allocated in the trust for care should be reasonable based on the pet’s age and condition.  Leona Helmsley left a $12 million trust fund for her dog.  A judge reduced it to $2 million and made a ruling that the rest should go to Helmsley’s charitable foundation.  I can’t even imagine spending anywhere near $2 million on pet care.  I guess the judge deemed that “reasonable”.

If you would like more information about setting up care instructions or a Pet Trust, check out the website www.2ndchance4pets.org. They have a wealth of information and resources to help you.