Are you considering putting your pets in a Will? Over half of adults in the UK are pet owners, reflecting our deep affection for animals, whether furry, feathered, or scaled.
We treat our pets like family and want the best for them. However, the law views pets as property, similar to a table or phone. Consequently, you cannot leave a cash sum directly to a pet in a Will. Instead, you can designate the pet itself as a gift or asset, just as you would with a wedding ring or car.
When gifting a pet to a beneficiary, ensure the following:
- The beneficiary agrees to care for the pet.
- The beneficiary has sufficient funds to support the pet.
At Burtons, we help include special provisions in your Will to guarantee long-term care for your beloved pet.
Steps to Consider
First, identify the most suitable person to care for your pet, whether a friend or family member. Ideally, this person should know your pet well and be able to provide the loving home your pet is accustomed to. Remember, pets experience loss and emotions just as deeply as humans do.
If a friend or family member cannot take on your pet:
Many charities can assist. Some people allocate a portion of their Will to these charities to cover rehoming costs. For instance, the RSPCA offers a Home for Life service, where the charity takes ownership of the pet and ensures it finds a good home.
Alternatively, you might choose to leave decisions to your Executors. You can provide a Letter of Wishes detailing your preferences for your pet’s care, including suitable homes, food preferences, and habits. This Letter of Wishes will accompany your Will, allowing you to update it easily without altering the Will itself.
The Cost
Pet ownership involves ongoing expenses, averaging over £1,200 annually, plus veterinary bills. Since pets cannot hold legal personhood, you cannot leave money directly to them. However, you can allocate funds for their care.
You might consider leaving money to the beneficiary responsible for your pet. However, concerns may arise that the beneficiary could use the money for personal needs.
Our team at Burtons offers a solution through a discretionary trust. With this trust, your pet’s funds will be managed by Executors and Trustees, who will disburse money gradually for your pet’s care. This arrangement ensures that funds are used solely for your pet’s well-being. Executors and Trustees have the authority to withhold funds if they believe the pet is not being properly cared for.
Get in Touch
To ensure your pet’s care is addressed in your Will, fill out our online contact form here, and we will reach out to you.
