The bond between humans and their pets is often unbreakable, extending beyond the owner’s lifetime. As pet owners, you want to make sure your beloved companions receive care even after you are no longer around. Can you leave assets for your pets?
The law considers pets as property, meaning you cannot leave money or property directly to your pet. Still, you can create a pet trust or include specific provisions in your will. A pet trust lets you specify how to care for your pet if you pass away or become unable to care for them yourself.
Legal ways to secure your pet’s future care
When planning for your pet’s future care, consider the following:
- Identify a caretaker: Choose someone who loves and understands your pet. Discuss your expectations and ensure they agree to take on this responsibility.
- Appoint a trustee: Select a trustworthy person or institution to manage the trust funds. The trustee should be different from the caretaker to avoid conflicts of interest.
- Detail care instructions: Provide specific instructions on your pet’s diet, medical needs and daily routine to ensure continuity of care.
- Allocate funds: Estimate the costs for your pet’s lifetime care, including expenses for food, medical care, grooming and other needs. Set aside an appropriate amount in the trust.
- Include a remainder beneficiary: Decide who receives any remaining funds after your pet passes away. This could be a family member, a friend or a charitable organization.
Aside from a pet trust, you can also leave assets directly to a caregiver in your will. This approach is simpler but offers less control over the usage of the funds. It often relies on the honor system and the caregiver’s willingness to follow your instructions.
Do not leave your pet’s future to chance
While it is possible to create a pet trust or add pet provisions to your will on your own, it is not advisable. Estate planning laws can be intricate, and mistakes could leave your pet’s future uncertain. An experienced attorney in Georgia can help you create a solid plan that protects your pet’s interests.