Do you consider your furry, feathered or scaly friend a member of your family? Pets are a beloved part of many Australian households.
Have you thought about what would happen to your pet if you died? Under Australian law, pets are considered property. This means that pets are unable to inherit directly under a Will.
If you pass away without clear instructions regarding your pets, they may be left in the hands of people unwilling or unable to care for them.
There are options to provide for your pet in your estate plan so that their future is protected:
- You may choose to leave your pet, together with a financial gift, in your Will to someone you trust to give your pet a loving home. It is important that you speak with that person first to ensure they are willing and able to take on the responsibility. It is also prudent to nominate an alternative person, in case your first choice becomes unable to look after your pets or predeceases you.
- You can establish a trust in your Will to provide funds for your pet’s care and maintenance during their lifetime. This can provide greater certainty for your pet’s care, although it may be a more costly option because the trust must be administered. You would need to appoint someone as the trustee of the trust to manage the funds on behalf of your pet.
- Some organisations such as the RSPCA and the Animal Welfare League offer legacy programs to re-home or care for pets after an owner’s death or incapacity. There are clauses we can include in your Will to specify that this is your preference.
- You can include information about preferences for your pet’s future care in a Letter of Wishes. This document sits alongside your Will and can be updated from time to time as your circumstances change. A Letter of Wishes is not legally binding but may provide sufficient peace of mind for many families.
- If you lose capacity, who will care for your pet? You can refer to your pet and their care arrangements in your Enduring Power of Attorney and Advance Care Directive so that you know they will be looked after in accordance with your wishes in the event you lose capacity.
No matter which option you may chose, you should always discuss your wishes with your appointed decision-makers and loved ones.
Book a free chat with us today to discuss how we can help to protect your pet’s future through carefully drafted Estate Planning documents. We are experienced Wills and Estate Planning lawyers based in Prospect and work with families across Adelaide to help you design an Estate Plan that reflects your values and gives you confidence about the future.