
Estate Planning
Adding Pets to Your Will & Pet Guardians | GoodTrust
Have you ever wondered about what will happen to your pets once you are incapable of taking care of them? If you're like most people, you consider your pets as part of the family. Animals usually have a shorter lifespan than humans, but to ensure they will get what they need once you're gone, it is important to plan for them in your will or trust.
Why do I need to mention my pets in my will or trust?
The mention of pet provisions in a normal will is not common. If you do not appoint a guardian in a will, it is up to your family to decide what happens to them, or they end up in an animal shelter. Your family or friends might not be aware of your wishes, which is why you should appoint a guardian in advance. Because pets are legally seen as property, you can not leave them any money or estate in your will but you can allocate funds for them through a Pet Trust within your Trust. Just like the guardianship for a child, you can appoint an appropriate guardian or organization to look after your pets. In addition to a guardian, you can leave specific instructions on how to take care of your pet, in regards to special needs. If you do not assign a guardian in your will or trust, your pet(s) will go to your residuary beneficiary. If you don’t have a will at all, a local court will name an executor for your will. That person will decide who or where your pet will be sent.
What do I need to consider?
Because pets in a will or trust is a special topic, there are some important things to consider. You should carefully think about the needs of your pets, and who is able and willing to cover those needs. Maybe you have someone in mind, but before you make a decision you should consider the following sections.
1. Choosing a Guardian
You basically have two different options when it comes to the next caretakers of your pets. You can leave them to your family or friends, or you can name an organization of your choice. When choosing a person, consider the following:
Living circumstances: Depending on the pet, you should consider the space and shelter of the guardian. Do they have enough living space/the right accommodations to provide comfortable shelter for your pet? Are they okay with restricting their current space to provide for your pet?
Allergies: Does your guardian or their close relative have pet allergies? Make sure to clarify that information before you assign someone as their guardian.
Time and Effort: If your pet needs a lot of time and effort, like a dog, are they able to fully provide for your pet? Even if they are, are they willing to take time out of their day(s) to do so?
Financial Situation: Supporting a pet is more costly than a lot of people think. Especially if an animal has a higher life expectancy, it will cost the guardian more in the long run. You can allocate some funds in a Pet Trust within your Trust, but it is still important to ensure the guardian you choose will be able to financially take care or your pet. Maybe you have one or more people in mind that fulfil all of those conditions.Before you appoint a guardian, you should make sure that they are comfortable doing so.
2. Choosing an organization
If finding a dedicated caretaker for your pet proves challenging, numerous organizations and charities stand ready to provide the care and support your beloved companion deserves. Explore these compassionate options to ensure your pet's well-being in times of need.
Mission and Values: Research and select an organization that aligns with your values and priorities for animal welfare. Consider their mission, track record, and reputation within the community.
Facility and Resources: Inspect the shelter or organization's facilities and resources. Ensure they have the capacity to provide a safe and comfortable environment for your pets.
Adoption Policies: Familiarize yourself with the organization's adoption policies. Ensure they prioritize the well-being and compatibility of the pets with potential adopters.
Communication and Updates: Inquire about the organization's communication practices. Choose an entity that commits to keeping you informed about your pets' well-being and any potential adoptive families. Whether you decide to give your pet to someone you know or a shelter, it is important to do so before you die. Only you know the needs of your pet, and who can truly fulfill them.
Adding your pets to your will or trust is easy and simple. Your family and friends might not know who is best capable of taking care of your pet, and they certainly don't know about your wishes and preferences. Get your peace of mind for you pet and add them to your will today. Get started now!