A will is arguably the most important document a person will sign in their lifetime, representing a final exercise of personal autonomy. It provides valuable peace of mind that final wishes will be carried out. When thinking of wills, it is common to consider the future of land, possessions, investments and cash.
But how do pets fit in?
For many, our furry friends are a primary concern, so it is important to consider what will happen to them in the future.
In the UK, an estimated 60% of households have at least one pet, making this an important consideration for many. While our pets may feel like family to us, they are not considered as such in a will. Rather than being recognised as individuals capable of benefitting from an estate, pets are instead considered “chattels”, a fact that over half of pet owners reportedly are not aware of. This means that they are handled in the same ways as a car, artwork or jewellery may be treated in a will. While they cannot inherit from you in a will, there are ways to secure their future.
Options for providing for a pet after you’re gone
One possible route is to hand over your pet to your trustees after death. Alongside this bequest should be a letter of wishes, expressing how you would like the trustees to deal with the pet, and an accompanying gift of funds so that whoever receives your pet has a pot of cash to cover (often expensive) veterinary fees, food, insurance and other related expenses.
While these wishes can be very specific, they are just guidance, and the efficacy of the gift depends entirely on the trustees’ willingness or ability to comply with the wishes. Due to this, some favour an alternative route, whereby the animal is left to a named legatee. There should also be a cash legacy to cover the costs of ownership of the pet. Given that the legatee is free to accept the gift of the pet or refuse it (known as “disclaiming”), it is important to discuss the gift with the recipient during your lifetime and make sure that they actually want the pet (!)
An individual might also decide to leave their pet to a charity, such as the RSPCA or Dogs Trust, with the direction that the charity will find a suitable home for them. Certain charities have developed schemes to ensure that an animal is cared for when its owner dies, adding greater peace of mind for owners.
Why does including pets in wills matter?
Around 74% of adults in the UK fail to account for their pet in their will. Consequently, many pets will face uncertain futures following their owner’s death, or they may even accidentally pass to persons who either do not want them or receive them reluctantly. The best way to ensure the future you desire for your pet is to include specific provision in your will. Furthermore, if situations change regarding your pet, your will should be updated to reflect such changes.
If you have any questions regarding pets in wills, or wish to make a will, please contact one of our legal professionals for advice.