ensure your pet is cared for when you die

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1 Pets left behind ensure your pet is cared for when you die Introduction Whether it s cats or dogs, parakeets or parrots, hamsters or horses, Britain is a nation of devoted pet lovers. They bring us joy, companionship, laughter and comfort, which we reciprocate in abundance. In the UK, we spend 4 billion annually on our pets that s roughly the equivalent of one billion chew toys. As much as we care for our pets in life, we often forget to think about what happens to them after we ve gone. This is probably just because, with the exception of the giant tortoise, most pets life spans are considerably shorter than their owners. Yet in the UK, tens of thousands of pets are left behind every year. Ensuring your pet is properly provided for after your death might be more complicated than you realise; it presents a number of issues, both legal and practical. This guide offers expert advice to make sure your pet continues to live a happy and secure life after your death. For further advice and support, visit saga.co.uk/legal or call us on P1

2 Part One First things to consider Make it as easy a transition for your pet and their new owner as possible. Asking someone to look after your pet Before you start drawing up legal papers confirming who you want to look after your pet when you die, you should ask that person if they would like to. This prevents the new owner from feeling obligated to take on your pet once you re already gone, ensures they can prepare for it mentally, financially and practically in advance, and means you can answer any questions they might have about your pet s needs. Pets can be expensive Food, toys, bedding, vet bills looking after a pet costs money. And as they get older, these costs can increase, especially if they get ill. So it s probably a good idea to provide not only for your pet s present circumstances but also for anything that might happen in their future. By setting up a Trust you can rest assured that any unexpected vet bills, or even pet insurance payments, are well taken care of. So your pet will be, too. See Part Two for your guide to setting up a Trust. Every pet is different Pets have personalities and their owners know their peculiarities and preferences. If you don t share this information with the new owner, how are they to know what makes your pet feel happy, safe and healthy? Producing a comprehensive guide to the ins and outs of your pet and its needs will help considerably with this. You can visit saga.co.uk/legal to download our Pet Executor Form this is a simple way of laying out all your pet s requirements so that they are clear for their new owner. What happens immediately after you die? At a distressing and confusing time for next of kin, pets can be forgotten about when their owner dies. This means that, unless a plan is in place for this interim period, your pet may not be getting the level of care and attention that you would want. As well as putting your pet s needs in writing, make sure that you discuss with family and friends what to do with and for your pet when the time comes. P2

3 Part Two Legal steps you can take To help ensure your pet is properly cared for, there are legal and financial provisions you can make. Consider your pet in your Will Naming in your Will who you want to take on your pet is a good way to let people know what you would like to happen. You can also bequeath money to the pet s new owner for their care. However, it s important to note that if you leave a pet to someone in your Will, even with financial provisions, they are not obliged to take care of them following your death. Make sure you talk to this person first to ensure they are happy to take on your pet before naming them in your Will. If you have a Will already, this can be amended using a Codicil and if you don t have one yet, it s very important to consider drawing one up. Discretionary Trust A Trust is a legal arrangement allowing assets such as property or money to be looked after for the beneficiaries in your Will. There are several different types of Trust, and when it comes to providing for pets, a Discretionary Trust is often the most sensible option. How a Discretionary Trust can provide for your pet? With a Discretionary Trust, you set aside an amount of money to care for your pet by gifting it to a Trustee, who in this case would be the new owner. The Trustee has the flexibility to use this money as they see fit, whether it s for food, toys or medical care. The Trust would last until the pet passes away, at which time the money could pass to the Trustee or to other beneficiaries, such as children or grandchildren. How long does a Trust last? Trusts can last for different amounts of time. The maximum time before it expires is 125 years, which should cover almost every eventuality (except for the mighty giant tortoise, of course). As a general rule for most household pets, a Trust should be set up to last at least 25 years, especially if they are still very young, or in the eventuality of a particularly tenacious tabby. How much should you leave? How much money you want to leave depends on the type of pet. Life spans differ enormously between species, and even between breeds a Labrador or chinchilla is likely to far outlive a hamster. You also need to consider the lifestyle you want your pet to lead do you want them to be pampered or do you just want to cover off the basics, such as food and veterinary care? If you have a cat or dog and you or the person you re leaving your pet to are 50 or over, you can find out how much it might cost to insure your pet by visiting saga.co.uk/pet or calling for a quote. P3

4 Lasting Power of Attorney Whilst a Trust helps to provide for your pet when you die, it s also worth considering what happens if you become seriously ill or otherwise incapacitated. A Lasting Power of Attorney (LPA) can help with this, and is a document which everyone, not just the elderly, should consider having. An LPA grants financial and legal powers over your affairs to another should you lose capacity. Without an LPA, day-to-day tasks like making payments can become difficult. With an LPA in place, your designated attorney would be able to make provisions for your pet, such as paying a vet bill or for temporary care, for as long as needed. If you would like more information on writing your Will, setting up a Trust or arranging a Lasting Power of Attorney, you can contact the Saga Legal Services Team by visiting saga.co.uk/legal or call us on P4

5 Part Three Next steps We all want what s best for our pets and hopefully this guide has given you an introduction to the ways you can provide for them when you re gone. If you d like more information and expert advice on what s right for you, visit saga.co.uk/legal or call us on We also recommend you download our Pet Executor Form from saga.co.uk/legal so you can provide all the key information on your pet for their new owner. About Saga Legal Solutions Saga Legal Solutions provides a range of affordable and accessible legal products and services for people aged 50 and over at competitive fixed prices. Products include Wills and Estate Planning, Probate and Conveyancing. For initial free advice or for more information, visit saga.co.uk/legal or call us on NSW-LG0114 P5