Why is Pet Planning Important?
By Laura J. Martin, Esq.
Pet Planning is estate planning for animals and the people who love them. People are often curious, why do we need special planning just for pets?
Benefits for Pets: Our companion animals depend on us for everything! They need someone to care for them, somewhere to live, and money available to pay for their care expenses. We must plan ahead to ensure their needs will be met if we become unable to care for them.
Benefits for Pet People: Maintaining relationships with pets is also important for our own wellbeing. Pet ownership is associated with lower blood pressure and cholesterol, a stronger immune system, better cardiovascular health, and may slow the progression of dementia. Pets are an important source of companionship and social interaction, and taking care of pets helps us live longer and take better care of ourselves.
Financial Benefits: Pet Planning does cost money, but failing to plan can cost even more. If you don’t plan ahead, your estate may incur unnecessary or increased costs for boarding or in-home care, veterinary treatment, grooming, rehabilitation, advertising and evaluating potential pet placements, and increased court costs. Pets that are abandoned in a home without daily care can also cause a lot of costly damage in a very short span of time.
Community Benefits: Pets that aren’t planned for often become a community problem. Most community animal control agencies, humane organizations, and shelters are already overwhelmed with abused, neglected, and abandoned animals. Failing to plan ahead for your own pet will add to these burdens and there are not enough resources for all pets in need.
Pets are Considered Property: 97% of us consider our pets family members, best friends, or valued companions. However, animals are considered tangible personal property under the law. Tangible personal property are items you can touch, such as a car, jewelry, clothing, furniture, and animals. General estate planning laws treat pets similar to furniture!
Our Default Laws are Not Good Fits for Pets: While animals may be considered property, a pet is not set and forget – animals require daily care. We cannot put them in storage or on the curb for pickup like furniture. General estate planning laws prioritize economic value, while we are usually more concerned about our animals’ wellbeing than their maintenance costs, monetary value, or earning potential. Conscientious animal owners do not want their pet sold or rejected to minimize costs of care, or leased for experimentation to maximize earnings. Almost all of our existing estate planning laws are designed to benefit people, often at the expense of pets.
We must take deliberate steps to provide for and protect our pets by adding pet-specific terms to our estate planning documents. Pet Planning is important because it is the best way to ensure that your wishes for yourself and your pet will be honored. How to do this will be covered in future articles.
This is the second article in the OAA Animal Insider newsletter continuing series about Pet Planning. Additional information about Pet Planning and the planning options available to you is included in the Introduction to “Pet Planning” for Animal Owners guide.
Disclaimer: This information is provided for educational purposes only and is not legal advice. For Pet Planning assistance, please consult with an experienced estate planning attorney.
