A total of 3.2 million households in the UK have acquired a pet since the start of the pandemic, which means that there are now 17 million pet-owning homes in the United Kingdom. The question is – have these pet parents made plans for their four legged friends’ future?
What most owners do not realise is that despite their companion becoming a intrinsic member of the family, the law sees pets as possessions, just the same as a television or an armchair (we know!).
How do I include my pets in my Will?
Firstly, it is advisable to see whether you trust anybody enough to look after your furry family should you pass. We would always recommend that you speak to that person first before you leave your beloved to them and make them a beneficiary. It is always worth preparing a second beneficiary, just in case your mild mannered kitty turns in to a little tiger and they have second thoughts when the times comes…
f you can’t find anyone who would be willing to welcome your pet into their home, you can make provision that your companion is looked after by an animal charity instead. Lots of charities accept pets that have been left homeless as a result of their owner’s death, such as the RSPCA.
Can I leave financial provision?
Pets are expensive. In the UK, people spend an average of £16,000 to £32,000 over a lifetime for their pet. It is impossible to leave Dave the Daschund a lump sum to make sure he keeps himself fed and vaccinated but it is possible to ensure there is care for your companion for the future by way of a lump sum or discretionary trust prepared for the entrusted beneficiary.
What should I consider?
There are a few other important things to know about when providing for fur babies in your Will.
The first is that before making your Will, you must speak to anybody you wish to entrust with the care of your pet – nobody likes a surprise pack to arrive one day!
Secondly, you must not forget about future additions. You might think it’s difficult to make plans for future pets, seeing as you don’t have them yet. To get round this, you need to word your Will in a certain way so that your furry family at the date of your death are provided for.