For many of us, pets are beloved family members. We provide them with food, shelter, medical care, and love throughout their lives. But have you considered what would happen to your pets if you were no longer able to care for them?
Estate planning for pet owners addresses this important concern. It helps ensure your furry, feathered, or scaled companions receive proper care if you become incapacitated or pass away. To learn more about estate planning for a beloved pet, continue reading.
Why Estate Planning for Pets Matters
As of 2024, 66% of American households had at least one pet. Despite this, few pet owners have made legal arrangements for their animals’ care should something happen to them. Without proper planning, pets may end up in shelters or with caretakers who don’t understand their needs.
Estate planning for animals gives you peace of mind knowing your pets will continue receiving the care they deserve, even when you can’t provide it personally. It eliminates uncertainty and prevents your pets from falling through the cracks during a difficult transition.
The Risks of Informal Arrangements
The simplest approach for protecting pets is choosing a willing caretaker and discussing the pet’s needs with them. While this requires no legal documentation, it also offers no guarantees. The person you’ve chosen might change their mind, become unable to care for your pet, or simply forget their promise.
Options for Including Pets in Your Estate Plan
Pet Care Provisions in Your Will
You can include directions for pet care in your will, but this approach has limitations. Wills don’t take effect until after your death and probate, which could leave pets without established care for weeks or months. Additionally, wills cannot enforce ongoing care. Once your pet and money are transferred to a caretaker, there’s no legal mechanism to ensure the money is actually spent on your pet.
Can You Leave Money to Your Pet?
No, you cannot leave money or property directly to a pet in your will. This is because, under the law, pets are considered property and cannot own assets.
Creating a Pet Trust: The Most Comprehensive Solution
Pet trusts have become the gold standard in estate planning for pet owners. Illinois recognizes pet trusts under the Illinois Pet Trust Act, making them legal arrangements that provide ongoing care for your pets.
A pet trust allows you to:
- Set aside funds specifically for your pet’s care
- Describe how your beloved pet should be cared for/provide detailed instructions
- Name a trustee to manage funds
- Designate a caretaker (who may be different from the trustee)
- Create a legally enforceable arrangement
- Specify what should be done with any money that remains after the animal dies
- Name someone who will go to court to enforce the terms of the trust
Unlike wills, trusts can take effect immediately if you become incapacitated, ensuring no gap in your pet’s care.
Key Considerations When Planning for Your Pets
Selecting the Right Caretaker
Choose someone who has met your pets, understands their needs, and has demonstrated responsibility. Ideally, this person shares your philosophy about pet care and has a living situation suitable for your animals.
Always choose backup caretakers, as well. Talk about your wishes with all possible caretakers before naming them in your will or estate plan. This way, you can confirm they are prepared and capable of accepting this responsibility.
Determining Fund Amounts
The amount of money needed depends on several factors:
- How many animals are named in the trust – Are you planning care for one or multiple pets?
- Type of pets – Fish vs dogs, for example, require different care and expenses can vary significantly.
- Age and health of your pets – Older animals often need more medical care than younger pets.
- Expected lifespan – Large dog breeds usually live shorter lives than cats and small dogs, and some birds and reptiles can live many decades.
- Medical needs and living conditions – Animals with special needs may require more expensive and frequent medical care. Exotic pets may have special habitat requirements.
- Standard of living you wish to maintain – Most pet owners want their animals to continue receiving the same quality care they did when they were alive.
For dogs and cats, it’s not unreasonable to set aside $10,000-$25,000 per pet, though this amount can vary based on individual factors. Exotic pets like lizards and birds or animals with special needs may require significantly more.
While these numbers sound high, keep in mind that vet costs are rising each year. One emergency procedure could easily cost upwards of $5,000. This is why more and more pet parents are investing in pet insurance.
Detailed Care Instructions
Estate planning for beloved animals should include detailed instructions about:
- Diet and feeding schedules
- Exercise requirements
- Veterinary care preferences
- Pet insurance policies
- Medications and treatments
- Behavioral quirks or special needs
- End-of-life decisions
These instructions help ensure continuity of care and reduce stress for both your pet and their new caretaker.
Setting Up Pet Trusts: A Practical Approach
When establishing a pet trust, work with an attorney experienced in this area. They can help you address important details within the trust to ensure it’s legally sound and fully protects your pet for the entirety of their life.
Taking Action: Contact Crosby Law Firm
Don’t wait to incorporate your pets into your estate plan. Animals provide us with companionship, comfort, and unconditional love— they deserve the same dedication from us in planning for their future.
Contact our law office to discuss estate planning for your pets. Our Rockford estate planning attorney can ensure your animals receive the care they deserve and give you peace of mind. We handle all aspects of setting up estate plans, from wills and trusts to beneficiary designations.
Whether you need to establish a new pet trust or update your existing estate plan, we’re here to provide legal guidance. At Crosby Law Firm, we can help you legally protect all members of your family— including those with paws, fins, claws, or feathers.
