Can You Provide For Your Pet Through a Trust & Will Estate Plan? Yes, You Can.

According to a recent study, the majority of Trust & Will members are choosing to make arrangements for their pets through their estate plan. 

Of the 55,000 survey respondents, 83 percent were Millennials who have appointed someone to care for their pet if anything were to ever happen. That number grows to 93 percent when including all survey respondents over the age of eighteen. This guide will share some trends we’ve noticed specifically related to pet ownership in the context of estate planning.

Some interesting pet trends in estate planning

Estate planning, at the end of the day, is all about protecting yourself and protecting those you love. Who says that those you care about are limited to human beings?

You may not be aware, but you can appoint a guardian for your pet or pets, just as you would for your child. In case anything unexpected were to happen, you can have peace of mind knowing that someone you trust will step in and take care of your furry friend (or scaly, or feathered…you get the gist.) 

Our 2024 Millennials and Estate Planning annual report revealed some interesting trends in estate planning when it comes to pets:

• 83%: Millennials who have selected a guardian for their pet (up from 71% in 2023).

• 35%: The share of estate plans that have different guardians named, for those who have both pets and children.

Top pets named in Trust & Will estate plans

Wondering what types of pets were designated in our estate plans? Here’s a breakdown:

1. Dog (56%)

2. Cat (32%)

3. Other (12%)

Within the “other” category, some top selections included (in descending order) horse, bird, rabbit, and fish.

Examples of arrangements made for pets

In addition to naming a guardian for your pets, you can also use your estate plan to make special arrangements. Here are some examples we’ve seen from our members:

• Outline your wishes for the guardian of your pet to receive an annual stipend to be used to take care of the pet, for the duration of the pet’s lifetime.

• Provide a fixed sum that will be gifted to the pet guardian to support them in providing care to any animal under their charge.

• A set cash gift only to be used for a specific purpose, such as the medical needs of the pet.

• Burial or cremation wishes for the pet upon their passing.

• Naming a sum specifically for the payment of pet insurance.

• Making out a legacy gift to a nonprofit, such a no-kill animal shelter or adoption assistance program.

How it works: Including your pet in your estate plan

When you go through the process of making a will, you can leave your pet as a gift to someone in your will, much like the way you can leave someone your car or your piano. You can also specify a request that this individual who will inherit your pet will also act as the pet’s caretaker. 

If you were to pass away, the named individual will become the legal owner of the pet and will assume all rights and responsibilities associated with pet ownership.

This is how you can go about naming someone as a guardian for your pet, as most states legally treat pets as property, and not as family members. (There are few exceptions, but in the context of determining custody during a divorce or separation.) 

When drafting your will, be sure to include the following information in your pet clause:

• The full legal name of your designated caregiver

• Your pet’s name and breed

• Any criteria you have for handing ownership of your pet

• Specific care instructions, including medical needs

• An alternate caretaker (or more) in case your first choice is unavailable or unable to take your pet

Note that you typically cannot leave money or property directly to your pet. Again, in the eyes of the law, pets are property and therefore can’t own property. However, you can make arrangements to leave money to the caregiver to be used for your pet’s care. You can also consider setting up a trust funded with money specifically to be used for your pet’s care and related expenses. 

All this is to say, it is entirely possible to make sure that if anything were to ever happen to you, you can take proactive steps now to make sure your pet would be under good care and live a good life. 

Trust & Will fully supports this and this is why we have incorporated pet guardianship into our Will. Find out more about our Will plan and all it includes and what all it can help you protect, whether you are a pet owner or not.

Trust & Will is an online service providing legal forms and information. We are not a law firm and we do not provide legal guidance.