Fiona Mainwaring, Head of Wills and Probate ORJ, explains how people can provide for their pets in their will…
Many people want to ensure their pets are well cared for after their death and it is a good idea to leave provision in a will.
Pets are classed as personal chattels. This means they are viewed as possessions similar to furniture, cars or antiques and can be left to a trusted friend or family member upon death. Of course, it is advisable to speak to the person involved and to think about what would happen to the pet if that person themselves is no longer around.
It might seem obvious, but money to care for the pet cannot be given directly to the animal as they are unable to have a bank account. Instead, a lump sum can be left to the person who is to home the pet moving forward.
When writing a will, try also to think about any pets you might have in the future to save you having to re-write the will. Statements such as ‘all of my surviving pets’ can be used instead of naming specific animals.
It is a good idea to work out how much is likely to be required based on the type of animal and its age. It is also possible to state in the will what happens to any remaining money once the pet dies. For example, it could remain with the person who has been caring for the animal or go to charity.
A safer way to ringfence money to ensure it is only spent on the pet is to appoint a trustee. That is someone who has responsibility for the money but not for caring for the animal. The person looking after the pet would then approach the trustee for funds as and when required.
This is a good idea if a large sum of money is involved, for example, to care for several horses, but it could potentially upset family members as it could be seen as a lack of trust in them.
I advised a couple who appointed a trustee as they wanted to leave a significant amount of money for their parrots, which can live for a very long time. Some animal charities will accept money in a will for the pet to be re-homed but, understandably, many people want to ensure their pet is being looked after by someone they know.
This is a guest post by Fiona Mainwaring. Want to write for us? Visit www.dogstodaymagazine.co.uk/essay-submission or email [email protected].
