People drafting wills often try to address their dependents. For many, providing proper support for minor children is a top priority. For others, the most important consideration might be what happens with their pets.
It is a natural instinct to want to address a pet’s needs and future well-being in a will. After all, they completely depend on their human owner. Unfortunately, a will is often not the appropriate place to address the support of a companion animal.
What factors do people need to consider when drafting wills in which they might intend to include a pet?
Pets cannot be beneficiaries
Those with resources might consider allocating some of their property to their pet for their long-term support. Unfortunately, animals cannot actually own property. Any inheritance designated for a pet is potentially vulnerable. The wrong people might offer to care for the pet in the hopes of gaining control over those assets. They could then abuse and even euthanize the animal.
Many people choose to establish pet trusts to create a degree of separation between the person who takes care of the pet and the assets intended for their support. The trustee can help prevent any misuse of those resources and can intervene in scenarios involving the neglect or abuse of a companion animal after their owner passes.
Treating pets as property can also be a risk
Some people sidestep the inability of a pet to inherit property by including the pet as an asset in their wills. It is fully possible for a testator to designate a beneficiary to inherit their companion animal after their death.
However, in that scenario, the person who inherits the pet has full control over the animal. They might euthanize the pet when it still has many years of life ahead. Treating a pet as property may result in the same types of tragic scenarios that sometimes follow a pet inheriting resources directly.
Thinking about an animal’s needs and the cost of caring for the animal may make it easier for pet owners to integrate their companion animals into their estate plans. Pet trusts can be a practical solution for those who want to ensure the comfort and well-being of their companion animals.