Pets are members of the family for many Americans. So, it is natural to wonder what happens to them when you are no longer around. Unfortunately, estate planning often overlooks a pet’s well-being, and probate law does not offer the most heartwarming solutions.
California probate law considers pets property, which means they cannot directly inherit from a will. Still, the state recognizes the unique bond between owners and pets, and there may be tools to address their future care.
Without a plan, your pet’s well-being is at risk
If you pass away without a will or any instructions regarding your pet, their fate becomes uncertain. Scenarios can include:
- Intestacy laws: The state’s intestacy laws may dictate who inherits your assets, including your pet. This person might not be the ideal caregiver.
- Family decisions: Your family members may try to agree on who takes the pet, but this can lead to conflict if multiple people are interested.
- Animal shelters: Your pet may end up in an animal shelter as a last resort. While shelters do their best, finding a new home can be stressful for an animal who has just lost their owner.
The good news is that California law offers a specialized trust called an animal trust, which may offer a much more secure and humane solution. In this estate planning tool, you can designate a trustee, an individual you trust to manage the funds allocated for your pet’s care, including food, vet bills and any other expenses.
Crafting a pet-centric estate plan
It is essential to outline your wishes for your pet’s care while you still have the time and options. Identify a trusted individual, estimate the costs and designate a backup caregiver. Knowing someone will look after your pet with love and respect, even after you are gone, provides immense peace of mind.