Skip to main content

Wills and Trusts and Pets, Oh My!

"Yes, I need to put my pet in my will. Or wait... is it supposed to be a trust?"

I'm quoting anyone there, no one in particular.  I could be quoting you! 

The fact is: figuring out how to best include pets in our life and death plans can be overwhelming and uncomfortable.


    But, it's the right thing to do: for your pet, your loved ones, and your own peace of mind.

    And, with the right estate planning attorney, the process won't be as bad as you think... we promise!

Fundamental Differences Between Wills and Trusts:

 -Standard wills go into effect after your death while trusts can go into effect as soon as they're created (think, you create a trust with your attorney and on the way home get in a wreck and become comatose- that trust could start working for you immediately... after order from judge granted)
    -Wills pass through probate court. Trusts do not

   -Wills become public record while trusts can be kept private

   -Living wills are different than last wills and pertain primarily to life support and appointing someone to make healthcare decisions for you (nothing in there about your pet is standard)

    -Power of Attorney assigns someone to be in charge of your financial and legal affairs (this does not assure a plan's in place for your pet when you're unable to care for it)



O.K., you have a little more knowledge now so...

   
    Let's loop back around to your pets. 

    Provided that we can agree it's the responsible thing to do to include your feathered or fur friends in your life and death plans,  next you should ask yourself these questions:

-Who could possibly take care of my pet when I'm unable to, due to death or illness? (make a list of potential candidates, then talk with them about this) hint: you should always have at least a 3-tier system too, with backup people in case person one or two becomes unavailable. 

-How can I be certain the person I assign as caretaker for my pet will follow through? (having a legally binding trust could be a great answer to this question, but a pet trust isn't the right thing for everyone: typically it's best for individuals that have multiple pets, want pets to stay in the home, together, and/or with some other specific parameters; trusts are typically reserved for those with a $500,000< estate to my best knowledge, although I am NOT an attorney!) hint: the financial provision in a will will help greatly with assuring your designated person or rescue follows thru... going with a reputable organization dedicated to such causes is also highly practical and typically offers more guaranteed assurance than going with say, Sally-from-book-club). 

-Am I able and willing to provide any financial assistance for the care of my pet when I'm gone or am I expecting someone to do me the favor of taking in my pet? (most people will NOT keep your pet as a favor to you, trust me... we get calls and emails from the daughters, neighbors, siblings, etc. of deceased pet owners, almost weekly!!!)

-I have (way) more than one pet so... I have to put a little more thought into this right? (Right!) -Work with an attorney!!! Google is not an estate planning attorney! 



    Those are just a few questions to get you started!
    
    In fact you should also have questions prepared for the person you'll approach about his or her willingness to care for your pet in the case of your absence.  -This is serious business and must be treated as such.

A Couple Final Thoughts:

    The motivation for starting Paw and Feather Plan was a sad one... when working in animal shelters (one in Louisville, Ky., and one in Miami, Fl.), it wasn't uncommon to see pets of the deceased surrendered.  -And it's still all too common.  



    
    
Being in an animal shelter is extremely stressful to a pet.  It can  cause behavior problems and/or lead to serious illness, and should be avoided whenever and however safely possible. 

    If your pet ends up in a shelter there's often no guarantee she'll make it out alive. 
    And even if there is that guarantee, there's no guarantee she or he won't sit in a cage or 'room' for weeks or even months on end... waiting to be adopted.
    And would the pet be socialized at least 3 times per day while in the shelter, for example (likely not!)?  -These are serious questions you need to consider as a pet owner when you contemplate your life, death, and your pets! 

    Lastly, Legalzoom.com or Pay a Local Attorney?

    Do it the right way: just pay and work with an attorney in person.
    -Why?
    The article on fidelity.com puts it nicely in saying, "If your executor does not have any experience with estate settlement, he or she may likely turn to an attorney for guidance." (link to article below)
    
    So, in other words, making and implementing life and death plans is a complicated and confusing task.  
   By working with a real life estate planning attorney out of the gate... you'll be doing everyone a favor in the long run!  You'll be saving your family, and your estate, money in the long run too!!!

     
  



Blog typed for informational purposes only by Jessica Pita, the owner of the Paw and Feather Plan Inc., who is NOT an attorney and is NOT giving any legal advice. 
Blog slightly revised and updated on 01-30-24
Labels:

Comments

Post a Comment

Popular posts from this blog

How Did We Get Here? Rescues and Shelters Everywhere Overwhelmed, Beyond Capacity

 Early on in the pandemic, circa summer 2019, an acquaintance reached out to me. "Hola Jessica.  I'm wondering if you have any dog I can foster now.  We're working from home due to the pandemic and I'm in my condo alone all the time." said pseudo-name-Sally .  "Wow, that's incredible Sally that you want to foster now?! -After all these years of me trying to get you to foster here and there, now you're able and willing?! That's great... but believe it or not, we don't have any dog to foster at this very instant.  With Covid, it's like everyone and everyone's brother needs a dog all of the sudden," I shared.  -Lastly I  added that I'd keep her in mind as a foster.  Silly Julie, she's the cutest, right?!      Within a couple of weeks of that phone call, I did find a dog for pseudo-name-Sally to foster, however, by then her boss had 'lent her' her own dog so she wouldn't be so lonely.       ( The last time I saw &#
Post a Comment
Read more

Give For Good Louisville Annual Fundraiser Recap (GFG Feels A Lot Like Playing the Lottery)

 - And I don't play the lottery.   While I don't judge others for gambling ( most everyone has his or her vices and/or diversions ), I for one don't gamble.       OK, you'll catch me buying a scratch off  maybe twice a year, when I've received birthday money   for example.   And naturally, it's rare that I win.  And when I have won, it's never been for more than $20.00.        That's all fine and well.  It's no big deal, but for the fact that I don't like it.    I'm a very passionate and engaged human being, so it's in my nature to 'go there' quickly and with an almost-pre-conceived notion that, 'I'm gonna win.'   If I'm scratching off for a potential $20,000 grand prize, try as I may to reel myself in, I'm seeing myself winning that $20,000 prize as I scratch away ~not the $20 one.        Then the let down is so... disappointing .  It's so icky to feel like you've lost, when you've invested time,
Post a Comment
Read more

What Does Having a Non Profit Business Really Mean? ~Read on to Find Out!

This is a big one; it's a big topic that I'll try to simplify and clarify for the reader as much as possible.      The  Wikipedia  Legal Definition of a nonprofit is a good place to start: a legal entity organized and operated for a collective, public or social benefit, in contrary with an entity that operates as a business aiming to generate a profit for its owners.       That seems pretty clear, right?  -While the basic definition of a nonprofit isn't particularly confusing or convoluted, it somehow lends itself to so many misconceptions, misinterpretations and misunderstandings.       That in and of itself is part of why I wanted to blog on this topic.      So, according to the above definition a nonprofit must exist to serve some positive social purpose, right?   -That is right, but let's not forget that the positive impact of a nonprofit can be highly focused and concentrated on a teeny-tiny fragment of the general population.      Here's an example of that:
Post a Comment
Read more