Pet owners make a special commitment to their pets, but how do you address this commitment in your will? Pets are considered by law to be personal property, but to pet-parents, our animals are family. So how do you give your pets using a will? There are multiple options to arrange for the care of your pet such as a provision in your will or a pet trust.

One option is to include pets with remaining property in what’s often called a residuary clause. A residuary, clause, says most simply: all my remaining property goes to Person A. The person who inherits, your beneficiary, receives your pet along with your other property as part of the residuary clause.

Another option is to make pets a specific gift. You can name a specific person who will receive your pet. This person should be willing to accept the responsibility and if you have the resources, you might leave a sum of money to aid with the pets’ care and maintenance.

Trusts are also an option for planning for the care of your beloved pet, and a pet trust can be included in your will. A pet trust is a specific part of your will that describes in detail who you will name to be the caretaker and beneficiary, who will manage the money for the beneficiary, and who will supervise to ensure that the caretaker is correctly caring for the pet. A pet trust has restrictions and is legally enforceable.

With multiple options available to a pet owner, proper planning can allow you to rest easy knowing your furry friends will be cared for.

If you have questions concerning how to properly include a pet in your estate plan, contact Weldy Law, PLLC, to schedule a consultation today 806-928-2087.

The above blog is for informational purposes and is not intended to be legal advice.