Dogs, Cats and Bequests.

One of the topics that comes up fairly often is how do I plan for my pets in the event of my demise? There are many ways to approach this as part of your estate plan. Here are two of the most common ways.

1. If you are comfortable naming a caregiver for your pets and giving that person a small donation to help care for your pet, it is something that can be incorporated into your Will or Living Trust. For example:

"I hereby give my dog,  Bear, to Jane Smith, and the sum of $1,000, which shall be expended for the care of my dog during its remaining lifetime; provided, however, that this gift shall lapse if my cat is not living at the time of distribution according to this provision or if Jane Smith does not undertake to use the funds gifted herein for the care of my dog."

2. Another option would be to give a donation to a local animal rescue organization for them to take in your pet and find a good home.  For example:

"If I have pets then living upon my death, it is my wish that these pets be given to the [Name Your Rescue Organization] along with a $5,000 gift to find a good home for my pets."

Please consult with your estate planning attorney for more information about including your pets in your estate plan.

Comments

[Planning Guide 101]

Hello Jennifer and Monica,

I am sorry, forgot to mention in my previous comment that you have a good resourceful blog of Estate Planning. Thank you for sharing your valuable information.

Well about this post I liked this second option of giving pet to local animal rescue organization and donate the money at the same time inform them to find a nice house for the pet.

[Jennifer Sawday]

Thanks for your kind comments. We appreciate it! As always, please feel free to email us if you have questions or ideas for other blog posts.