Protecting Your Pet In Your Pet Plan www.yourestatematters.com 1

PROTECTING

YOUR PET IN YOUR MISSOURI ESTATE

PLAN

Protecting Your Pet In Your Pet Plan www.yourestatematters.com 2

If you are like the majority of Americans you include at least one pet in your family.

Whether your pet is a cat, a dog, a bird, or something more exotic chances are good that

you consider your animal friend to be a part of the family. Given that your pet is part of

the family it only makes sense to include your pet in your estate plan; yet, many people

don’t think to do so.

Failing to include your family pet in your overall estate plan can have devastating

consequences for your pet. The good news is that providing for your pet in your estate

plan can be done fairly easily.

Protecting Your Pet In Your Pet Plan www.yourestatematters.com 3

Americans Love Their Pets

Americans have a much closer relationship to their animals than most other cultures do.

According to the American Humane Society, pet ownership has more than tripled in the

past four decades. In 2012, Americans owned 164 million pets, averaging out to 1.47

dogs per household and 2.11 cats per household. Almost half (47 percent) of all

households own at least one dog. Clearly, Americans love their pets.

Protecting Your Pet In Your Pet Plan www.yourestatematters.com 4

How Your Beloved Pet Could become Homeless

Every day over 1,000 pets, on average, across the United States are abandoned because

of the death or incapacity of their human owner. Many of these animals end up

homeless or in a shelter. Sometimes, a family pet is momentarily forgotten when

tragedy strikes and lands an owner in the hospital or causes the death of the owner.

Other times an older individual dies, leaving behind a companion animal without

anyone to care for him or her. Regardless of how it occurs, these animals end up

abandoned and alone. Don’t make the mistake of assuming that “someone” will take

care of your pet should something happen to you. Take the time now to designate a

caregiver and to include provisions in your estate plan for the care and maintenance of

your beloved pet.

Protecting Your Pet In Your Pet Plan www.yourestatematters.com 5

Verbal Agreements

There are several ways in which you can plan for your pet’s continued care should

something happen to you. The simplest, and least effective, is a verbal agreement with

someone. Pet owners frequently rely on nothing more than a verbal agreement which is

why so many pets are left without caregivers. Numerous things can go wrong with a

verbal agreement, including:

Unavailability of party to agreement –the person with whom you entered into

the agreement could be unavailable for a variety of reasons when the time comes

to fulfill the agreement and take over the care of your pet. Death, incapacity, and

relocation are common reasons why your chosen caregiver may not be able to

step in and take care of your pet.

Not legally binding –a conversation does not legally obligate the other party to

care for your pet. Moreover, there won’t be anyone to bring legal action to

enforce the agreement should the other party decide not to fulfill the agreement.

Does not provide funds –if the other party does not have the financial means to

pay for the your pet’s care and maintenance you will need to provide a funding

source, something a verbal agreement cannot accomplish.

Written Agreements – Letter of Instruction

Just one step up from an informal verbal agreement is a “Letter of Instruction”. A Letter

of Instruction is a letter that you write and include with your estate planning

documents. As the name implies, it typically includes instructions or additional

Protecting Your Pet In Your Pet Plan www.yourestatematters.com 6

information you wish your beneficiaries and/or loved ones to have after your death. A

Letter of Instruction has no legal authority; however, it does allow you to express your

wishes for your pet. Unfortunately, just as with a verbal agreement there is no

guarantee that those wishes will be honored.

Using Your Last Will and Testament

Although most animal

lovers cringe at this

categorization, the law

considers your pet to be

your property. As such,

your pet can be gifted to

someone in your Last Will

and Testament. You can

also gift the same

beneficiary assets in your

Will to be used for the

care and maintenance of

your pet. The two primary disadvantages to using your Will are that gifting your pet in

your Will does not cover a situation in which you become incapacitated and there is still

no guarantee that the intended caregiver will be available to care for your pet or that he

or she will actually use the assets as intended.

Protecting Your Pet In Your Pet Plan www.yourestatematters.com 7

Creating a Pet Trust – The Ultimate Protection

The good news is that there is a solution that alleviates all of the concerns and

disadvantages of the previous options – a pet trust. Contrary to what many people

believe, a trust can be set up rather easily with the assistance of your estate planning

attorney. A trust requires four basic elements – a trustee to administer the trust, trust

terms to guide the trust, a beneficiary (in this case your pet), and assets to fund the

trust.

Protecting Your Pet In Your Pet Plan www.yourestatematters.com 8

Creating a pet trust is the ultimate protection for your pet for the following reasons:

Legally binding – once created, a trust is a separate legal entity. Therefore, the

terms of the trust are legally binding and can be enforced by a court of law if

necessary.

Flexibility – a pet trust allows you to create very broad or very specific terms,

depending on your wishes. Your trustee, for example, can have a significant

amount of discretion when making disbursements or you can only allow

disbursements at precise intervals or for specific reasons.

Contingencies –with a pet trust you have the ability to name a trustee as well as

successor trustees. The same applies to a caregiver for your pet if you choose not

to make your caregiver the trustee. By naming successor or alternate caregivers

you are assured that someone will be available to care for your pet should the

need arise.

Control –through the trust terms you are able to control everything from what

food your pet is given to what veterinarian he or she treats with if you choose to

exercise that much control.

Incapacity – a pet trust can take over the care of your pet when specific events

transpire, such as your incapacity. Where other options only apply upon your

death, a pet trust can protect your pet at any time you are unable to care for him

or her.

If your family includes a pet (or two), consult with your estate planning attorney about

the best way for you to incorporate your pet into your overall estate plan to ensure that

he or she is well cared for even if you are unable to provide that care yourself.

Protecting Your Pet In Your Pet Plan www.yourestatematters.com 9

References

Humane Society of the United States, Pets by the Numbers

ASPCA, Pet Care

American Bar Association, Estate Planning Issues Involving Pets

AVMA, Pet Trusts: Caring for a Pet That Outlives Its Owner

Protecting Your Pet In Your Pet Plan www.yourestatematters.com 10

Estate Planning and Elder Law Attorneys in St. Louis, MO St. Louis Estate Planning Attorneys: Planning for Your Future Today

Missouri Estate Planning attorneys Amen, Gantner&Capriano, Your Estate Matters, L.L.C. are

here to help you with legal issues regarding St. Louis Elder Law, Veterans Aid and Assistance,

Probate, Wills, Trusts, Trust Administration, Powers of Attorney, Health Care Directives, LGBT,

and all things required to establish a proper estate plan for the future of both you and your loved

ones. Our law firm understands the varying dynamics of modern families and seeks to address

these issues in the estate plan so your estate is distributed only to those who you request, instead

of those who may be otherwise legally obliged to it. Estate planning can be a big project that

requires consistent maintenance; however, our professional Estate Planning attorneys can

organize all of the legal paperwork and logistics for you, while offering helpful legal advice along

the way.

Amen, Gantner&Capriano, Your Estate Matters, L.L.C. 10805 Sunset Office Dr., Suite #100

St. Louis, MO 63127 Phone: (314) 966-8077

www.YourEstateMatters.com

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