What happens to my pets if I pass Away? Estate Planning Pet Owner Edition
Losing a pet is simply devastating. If you have experienced it, you just know the feeling of having your heart broken and not quite knowing how to put it back together.
Have you ever wondered what the process of losing you would do to your pet?
They will lose not just the person they love most in the world, but they will lose everything: the home, food, safety and all of the other comforts you provided them with.
Though the thought of a world without us in it, might be even more somber than the thought of losing your pet, both are hard issues you need to think about TODAY. Life can change in an instant, without any notice, and your pet could be alone in a world that will never care for them the way you do unless you plan ahead.
Many pet owners don’t know that they can account for their pets in their Wills. Including your pets in your Estate Plan can help you ensure that they will receive the level of care that you provided for them for the rest of their lives.
You know they deserve at least that!
Every single one of us at Peffers Law knows how important our pets are. We consider them family members, and that is why we make it our job to help you ensure that your beloved pets are taken care of, even after you are gone.
We draft pet clauses every day!
In Ontario pets are considered property, so you can’t leave cash or set up a trust where your pet is your beneficiary. Nevertheless, there are a lot of options that will allow you take care of them and ensure they are happy, even if you have departed this world:
1. Establishing a Pet Guardian
A pet guardian is someone who could take care of your pet if something happens to you. You will need to decide who would be the best fit to take care of your best friend and companion. This person needs to be someone that is close to you, responsible and who loves animals.
2. Cash Legacy to a Pet Guardian
You should consider leaving a cash legacy to your pet guardian, that way you can ensure that they will be able to provide adequately for your pets. We can help you make sure the legacy is stipulated in a way that your pet guardian will only receive the legacy if they accept taking on the responsibility to care of your pets.
3. Establishing a Trust for a Pet Guardian
A pet guardian is someone who could take care of your pet if something happens to you. You will need to decide who would be the best fit to take care of your best friend and companion. This person needs to be someone that is close to you, responsible and who loves animals.
The great thing about setting up a trust for your pet guardian is that you can add instructions for the care of your pets and the designated use of funds.
A general consideration should be that you do not choose the same person to act as the trustee of the trust and as the pet guardian. Choosing different persons will help you avoid potential conflicts of interest and make sure the trustee enforces the terms of the trust.
These are just some examples on how you can take care of your pets if the unthinkable happens to you.
We can help you ensure that your pets are happy and safe once your are gone! Don’t hesitate to call us (905) 592 20 99 !
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