We are all well versed in the options we have available to us when a person dies; however, one important aspect that’s often overlooked is what happens to your pets when you’re no longer here to care for them.
While you cannot legally leave money directly to a pet, there are several effective ways to ensure they are well cared for after your death.
1. Gifting
The first and most simple option is to gift your pet to someone in your will. Your pet is legally considered to be your personal property and, therefore, they can be left to a named individual to take care of them.
Your pet is legally considered to be your personal property
When naming someone to care for your pet, you may also like to specify a sum of money for them to inherit, on the condition that they accept responsibility for the pet. This can assist with the ongoing costs of maintaining and feeding your pet. However, if the individual declines to accept the pet, they will also forfeit the associated financial gift.
2. A non-charitable purpose trust
If you prefer not to gift your pet directly, you can establish a non-charitable purpose trust in your will. This appoints a caregiver for your pet and a trustee to manage the funds you have assigned for your pet’s ongoing care. The trustee will distribute this money for the benefit of the pet, but the trust can also stipulate how the money is used. The trust will indicate what should happen to the funds after the pet passes; for example, the funds can be passed to charity or another person after the pet dies.
Due to this being a non-charitable trust, there is a 21-year limitation. After this time has lapsed, the trust comes to an end, meaning if your pet lives longer than this duration, there will be no provision for them to be looked after beyond this point.
3. Letter of wishes
You also have the option of setting out what you would like to happen to your pet in a letter of wishes. This is an informal document that accompanies your will. You can use this document to set out your preferences regarding your pet’s care, including who you would like to care for them and how they should be looked after.
A letter of wishes is not legally binding and therefore could be ignored by the executor administering your estate
However, a letter of wishes is not legally binding and therefore could be ignored by the executor administering your estate. This means there is no guarantee that your pet will be cared for in the manner you instructed. This option is best used to supplement a formal arrangement.
4. Intestacy
If you do not make any provisions for your pet when you are gone, then your pet becomes part of your residuary estate. This means it would be distributed along with your other personal possessions, and your executor (or administrator) has the power to decide what happens with your pet. This may mean they keep the pet as you wished, but they could also rehome the pet or give it to a shelter. This may not reflect your wishes, and it is therefore advised to set out clear instructions for what you would like to happen to your pet when you are gone.
So, what should you do next?
You should carefully consider which of the options above best suits your wishes for your pet. You should then ensure you put adequate provisions in place, including a valid will. It is also recommended that you discuss your wishes with the person you want to take over your pet’s care so they can be prepared and you can be reassured that the individual you select will honour those wishes when the time comes.
