3 Things All Pet Owners Should Consider When Making a Will

3 Things All Pet Owners Should Consider When Making a Will

For many, pets are an integral part of family life. In fact, around 44 percent of all households have a pet of some description, according to figures collated by the Pet Food Manufacturers’ Association

No matter the type of pet you have, you’ve probably developed a strong emotional bond with it over the years and have come to see it as part of the family. With this in mind, it’s important to consider what would happen to your animal companion if you were to pass away and factor in your pet’s care plans when creating a will. 

Here at Heritage Wills, we’re proud to offer an industry leading will writing service catering to people across the south and southeast of England. If you want to ensure your pet is financially provided for and left in caring hands after you’re gone, here are a few things to consider: 

1. Decide Who to Leave Your Pet to 

One of the most critical things to take into consideration is who you would ideally like to leave your pet to. For most people, this might be a relative or a close friend, but keep in mind that a passion for animals doesn’t automatically make someone the right choice. Housing can have a big impact on suitability, as can the amount of free time the prospective carer can dedicate to your pet. Similarly, allergies, lack of mobility and financial stability should also be taken into consideration. Be sure to have an open and honest discussion with the prospective carer before writing them into your will. 

2. Creating a Trust for Your Pet 

As a pet owner, you’re probably well aware that keeping your animal companion happy and healthy can be expensive. Indeed, the lifetime cost of a medium sized dog breed is estimated to be around £10,000! 

To avoid putting a financial burden on the person you choose to leave your pet to, some people decide to set up a trust that covers the future expenses of caring for your pet. To calculate an appropriate amount to put into the trust, think about your pet’s typical annual food and medical expenses. Top it up with some extra funds to cover the additional medical fees that most pet owners face as their pet ages. 

3. Ensure Provisions are Set Out in Your Will 

As with all other aspects of your will, it’s critical that your intentions are clearly set out in writing to eliminate any ambiguities. Set provisions in your will that state who you wish to take care of your pet and the details of your pet’s trust fund (if you have one). This is a relatively simple matter, but it does provide you with greater peace of mind knowing that your beloved pet will be looked after by someone you trust. 

Heritage Wills is the will writing service you can trust. Give us a call today for a no-obligation chat to discuss your options.