Estate Planning for Pets

Although it can be hard to face planning for the end of your life, it is good to know your options to make sure that your best friend and companion will be well taken care of.

Most people think of their pets as a valued member of the family, almost like a child. In the eyes of the law, however, pets are considered tangible personal property along with your cell phone, furniture, and laptop. Unless you have a will or trust in place that specifies what is to happen to your pet when you die, your family takes custody of your pet in the same manner as all your other stuff.

Be sure to name a person to adopt you pet in your will or trust. Make sure to talk to your friends and family about who would be the best candidate. If you can’t find someone you know, you can include a gift in your will or trust to an animal shelter, which will in turn promise to find your pet a forever home after you die. Talk to your preferred animal shelter to see if this is an option.

Consider whether to leave a specific gift in your will or trust for the care of your pet.  You may leave the money outright to the person who adopts your pet.  But consider what might happen if the money runs out and the pet needs something.  Alternatively, Oregon law also allows for a pet trust where you appoint a trustee to manage the money you have left for your pet. The trust remains in place until your pet dies. The leftover money goes to a person or charity you choose.