An estate plan sounds like it is only for the rich and famous, but it’s actually something everyone should have. An estate plan is a way to take care of yourself when you cannot do so and take care of your loved ones after you’re gone. And that includes your pets. Our pets have become like family to us, and we want to ensure they will be cared for when we die. Therefore, putting pets in your will is no longer just for eccentric billionaires; it’s for everyone.
Since a pet is considered property, leaving it in your will or trust is perfectly legal. But you want to make sure you choose a guardian who loves and cares for your pet as you do.
There are some items to remember when putting your pet in your will:
Setting up a pet trust allows you to name a trustee. This person can also legally care for your pet if you become ill and cannot do so. The trust allows your chosen person to take them to the vet if necessary or if any other responsibilities may arise.
If you have a will, you may choose to name a guardian who will care for your four-legged family member. If you pass away without a will (dying intestate), Illinois intestacy laws will take effect, and your pet will go to your nearest living relative. But if that person doesn’t want or can’t have a pet, your furry friend may end up in an unhappy household or at the pound.
A pet directive is a legal document with your trust or will that gives instructions and advice on caring for your pet. It tells the guardian or trustee information about your pet, such as:
Placing your pet in your will or trust is a way to ensure your pet has a familiar routine in their new home. It’s common and most certainly something you want to talk to your estate planning attorney about. An experienced will and trust attorney can help ensure your little loved one is cared for if something happens to you.
Pets are faithful companions, and you want to ensure your pet is provided for when you can no longer care for them. Making legal arrangements to ensure your pet is properly cared for is important. For help setting up a will or trust that includes your pet, contact us here or call 630-864-5835.
AREAS WE SERVE: DuPage, Kane, Lake, Kendall and Will counties.