Planning for Your Pet’s Care

Despite the fact that many petowners consider their pet a part of the family, only 17% of dog or cat ownershave taken steps to provide for their pet following their death.  Many pets end up in shelters following theirowner’s death due to the false assumption that a friend or relative will takecare of them. 

Legal options to provide for petsfollowing an owner’s death or incapacitation include stand-alone pet trusts andPet Protection Agreements.  Pet ownersshould not rely on their wills to provide for their pet, as the will can beheld up for weeks in probate before taking effect. 

Pet trusts are the way to go forthose pet owners willing to leave a substantial sum of money for theirpets.  Pet trusts cost over $1,500 to setup and make sense for owners leaving $50,000 or more.  Pet owners can specify exactly how to carefor their pet in a pet trust, including when to visit the vet and what food toeat. 

A cheaper alternative to a pettrust is a Pet Protection Agreement, which serves as a contract between petowners and designated guardians.  PetProtection Agreements cost less than $80 on LegalZoom.com and can includedetails about how a pet should be taken care of as well as any money a petowner wants to designate for care.

Pet owners should calculate themoney needed to care for their pet by tallying “the animal’s food, grooming,veterinary and other basic costs, and multiply[ing] that amount by itsremaining life span.”  Minimum measures apet owner can take include finding a temporary caregiver in case of emergencyand making a file containing the pet’s food, medicine, and veterinarianinformation.

Please see my book, Fat Cats& Lucky Dogs, for more information.

See Eleanor Laise, Put a Plan in Place to Ensure Pets’ Care,Kiplinger, June 2013.

Special thanks toJim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringingthis article to my attention.