RESPONSIBLE PET PARENTING

Estate Planning For Your Pets

Who’s going to care for your pets if they outlive you?

There will come a day when every one of us will leave this earth.

And, at some point in time, most of us with pets will ponder the uncomfortable possibility of outliving our companions.

Whether they’re dogs or cats, parrots or horses, winged, feathered or hoofed, more people today than ever before consider their pets as family members.

“My philosophy when it came to pets is much like that of having children: You got what you got, and you love them unconditionally regardless of whatever their personalities or flaws turned out to be.” Gwen Cooper, American Novelist

As with any family, life events can bring abrupt, unexpected changes. Suddenly the nephew you always expected to take your aging greyhound is moving to a college dorm out of state.

The neighbor who’d promised for years to take your two Persians “if anything ever happens” is now in a nursing home.

Your best friend, who’s set to inherit furniture, a car, and some cash, has made it clear she doesn’t want the responsibility of your poodle.

If you have pets who’ve brought you years of love and companionship, you need to make arrangements for their future care and comfort in the present — and not wait until some unseen disaster requires you to make hasty, and possibly unwise, decisions about their future.

There’s plenty of how-to information through organizations like Kiplinger, PetMed.com, Money Magazine, ASPCA, and others. And most law firms can create legally enforceable provisions for pets.

Researching ahead of time is critical because you’ll soon learn all estate planning tools aren’t equal.

But is estate planning and “legally enforceable documents” really necessary, you ask? Attorneys cost money. Why can’t informal arrangements be made with family, trusted friends, or a reliable pet-sitter you’ve engaged for years?

In some cases, any of these might work — but bottom line, whether the agreement is in writing or is oral, it’s NOT legally enforceable.

People frequently think a will is the best way to provide for their pets. In reality, it may be the worst. Provisions in a will only go into effect when you die and after it passes probate.

Sometimes probate can be lengthy, especially if it’s contested by the beneficiaries. A disputed will could result in a long time gap, during which your pet receives none of the provisions its guardian awarded them.

Add to that the fact states view companion animals differently. In Tennessee, where I live, pets are recognized as “property.” If provisions aren’t made in your will, your pet gets passed on to beneficiaries like a house or truck.

While some families decide informally who’ll do what for your pets, their decisions might not be what you would want. Who looks after the pet and what standard of care they receive would be totally in the hands of your heirs.

Most experts agree a pet trust is usually the safest and most detailed estate planning tool.

This legally binding instrument provides specific terms and conditions of care for your pets and goes into effect in the event of the guardian’s death, and — unlike wills — the owner’s disability.

It appoints a caretaker for the pets and a trustee to manage funds set aside for care. It also dictates in specific terms the kind and level of care your pet receives once you’re no longer there.

Even your pet’s end-of-life decisions can be made ahead of time, including burial or cremation and memorial arrangements.

According to the ASPCA, more than half a million pets are orphaned annually because of their guardian’s death or disability.

They note the most important — and most often overlooked component of pet guardianship — is providing for them if they should outlive us.

Assuming our relatives will readily step up and care for your pets after you die is a faulty assumption.

Even worse is the belief a shelter or rescue group will be available to feed, nurture and attend to your pet’s medical needs. This is magical thinking and not remotely attached to reality!

If you’ve been pondering the question of longevity — both yours and your pet’s — now is the time to consider estate planning for them. Your peace of mind is worth it.

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