Estate planning for pets
They're part of the family. The plan should say so.
Most of us will never take the time to plan properly for our pets. From a provision in your power of attorney to a pet trust with its own funding, this is one of the most overlooked — and most fixable — gaps in an estate plan.
Overview
Our pets and animal friends mean so much to us, but most of us never take the time to plan properly for them. Planning may be as simple as putting a provision in your durable power of attorney and your will — or as complete as creating a separate pet trust to hold and benefit your friends. Imagine your dog with her own brokerage account. Who knows, she might pick investments better than you have.
Bob has seen what happens without a plan. A client named Alan meant to provide for his six cats — cared for to the end of their lives, then a fund to help low-income seniors pay for pet food and vet bills. He never got around to signing anything. After Alan died, distant relatives hired a lawyer, sold the house, and rehomed the cats. Don't be an Alan.
It really is not difficult to provide properly for your pets and animal friends. Most people simply never take care of something so important.
What this covers
Simple or complete — but written down either way.
Powers of attorney for pets
Consent for emergency treatment, and authority for someone to take every step needed for your pets' safety and welfare — as separate documents or as language added to your regular power of attorney.
Pet trusts
A separate trust that holds and benefits your animal friends — a caregiver, a trustee, written instructions, and funding of its own.
Caregiver selection
Pick your pet's caregiver carefully. What do you know about the prospective new home — and what standard of living and care do you want for your pet?
Pet Alert Card
A wallet card, carried with your driver's license, that tells whoever finds it that an animal at home is depending on you. Do you have one?
How the work is done
Be responsible. Plan for the ones who can't.
Think through what your pet would need if you were gone — the food, the vet, the walks, the person who shows up. Then put it in writing, the same way you would for anyone you love.
Where possible, pet planning is folded into the rest of your estate plan, so the same documents that protect your family protect the ones with fur. The office is happy to discuss appropriate estate planning for your pets.
Max, a nice Rottweiler with a great home, was concerned about what would happen if his friends John and Gretchen didn't make it home one day. He got a special power of attorney for if they were merely injured, and a will-and-trust arrangement so he'd have a good place to stay — with cable TV — if they weren't coming back. Max was relieved, and offered one of his bones in thanks.
Next step
A plan starts with one conversation.
Bring your questions — about your dogs, cats, birds, and the people who would care for them. You'll leave knowing what a sensible plan looks like, whether or not you build it here.
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