HOW TO ENSURE YOUR PETS ARE CARED FOR IN THE EVENT OF YOUR DEATH

INCREASING numbers of people are now making plans in their Will  for what they’d like to happen to their pets, a leading expert has revealed.

Steve Bish, from S Bish Estate Planning, is dealing with more and more cases to help owners put a strategy in place to ensure their furry friends are provided for.

Explaining what’s driving the trend Steve said: “Pets are increasingly regarded as family members so it’s understandable that more people are including them in their estate planning and wills,” he said.

“In the UK many pet owners are now considering how their beloved animal will be cared for in the event of their death or incapacity to ensure they do not end up in a shelter as many, sadly, do.”

“Pets are considered personal property so when an owner passes away, their pet typically becomes part of the estate and may be inherited by a designated beneficiary or, in the absence of a will, passed onto the next of kin.

“But this can lead to complications, especially if that person is not expecting a four-pawed inheritance and they have no obligation to care for them as you would like them to do.”

Bish advises everyone with a pet to think about how they would like their pets to be cared for if they are unable to look after them.

“Setting out your wishes in your Will can reduce the risk of disagreements and mean that there is someone there to care for your pet immediately,” he says.

“Including provisions for your pet in your will ensures that they will be cared for according to your wishes.

“The love and care you provide your pets during your lifetime should extend into their future as well.”

Here Steve, who sadly recent lost his own dog Max (pictured), said: “

1. Designated Caregiver: You can specify who you want to take care of your pet after your death. By naming a suitable person in your will, you can ensure that your pet goes to someone who understands their needs and lifestyle. You can also include a substitute should the original person’s circumstances change.

2. Financial Support for Care: Many pet owners worry about the financial implications of caring for a pet. You can allocate funds in your will to cover the costs of your pet’s care, including food, veterinary bills, and other expenses. This can be done by leaving a specific amount of money to the designated caregiver.

3. Avoiding Disputes: Including your pet in your will can help prevent family disputes. When your wishes are clearly outlined, it reduces the chances of disagreements among family members regarding who should take care of your pet or how your pet should be provided for.

4. Peace of Mind: We’re a nation of animal lovers so knowing that you have made arrangements for your pet can provide you with peace of mind, especially if you have concerns about what will happen to them after your passing.

 How to Include Pets in Your Will

When creating or updating your will to include provisions for your pet, consider the following steps:

1. Choose a Guardian: Select a responsible person who is willing and able to take care of your pet. It is essential to discuss this with them beforehand to ensure they are comfortable with the arrangement.

2. Detail Care Instructions: Provide specific instructions regarding your pet’s care. This can include dietary preferences, medical needs, and any other relevant information that would help the caregiver provide the best care possible. Share information such as pet plans and insurance which you have taken out for your pets. You could also consider including it on your pet’s notes at their regular vet.

3. Allocate Funds: There has been an increase in abandoned animals over recent years so setting aside a sum of money specifically for your pet’s care will help to ensure they are not abandoned.  This can be done by creating a trust fund or simply leaving a cash amount to the designated guardian. You should ensure that the funds are sufficient to cover the expected costs. A Pet Trust is a legally binding arrangement which allows you to set aside funds specifically for your pet’s care, managed by a trustee.

4. Consult a Specialist: It is advisable to consult a professional who specialises in Wills and Estates to ensure that your wishes are legally binding and clearly documented. They can provide guidance on the best way to structure your will to include your pet.

5. Regularly Review Your Will: Your circumstances may change over time, and it is crucial to review your will regularly to ensure that your provisions for your pet remain relevant. This includes updating the designated caregiver if necessary or adjusting the allocated funds based on changing costs.