Where there’s a will there’s a way to care for your pets

WHEN writing your will and working out who gets what, it is important to include everything that you value... including a much-loved pet.

Wills aren’t just about using your assets to provide for your family and friends after you are gone, you need to look after your furry friend’s interests too, said Natasha Southam, associate at Seddons Solicitors.

Yet many people never think of including a pet in their will, or even understand how they fit into the whole process.

In estate planning, pets are treated as personal property in the same manner as a car or a painting, Southam said. “You can also include any specific wishes in relation to how you want pets to be looked after.”

Many owners cherish their pets far more than material items such as their car or furniture, and will want them cared for in a particular way.

There are three main options of providing for them, all of which should be accompanied by a “letter of wishes” outlining key information about the pet and its future care, Southam explained.

The first option is to make an outright gift of the pet to the executors and set out how they should be rehomed.

The second is to make an outright gift of the pet along with a cash sum for their financial maintenance, either to a specific person or animal charity.

Finally, you could create a “trust of imperfect obligation” along with funds to named trustees. The trust will run for the lifetime of the pet to a maximum of 21 years.

You also need to consider your pet’s likely life expectancy and update your will if you have more pets, any die, or your wishes change.

Consider consulting a solicitor.