What happens to your pets if something happens to you?

Estate planning tips to ensure your pets are provided for 

Our pets are a very big part of our lives. They keep us active, provide kisses and cuddles and are a source of endless smiles. And while we may not want to think about the ‘what ifs’, planning for your pets’ wellbeing if something should happen to you is crucial. It can make the transition for your pets easier, ensure that they don’t end up in a shelter (or worse) and will provide you with peace of mind that they will be cared for.

Estate planning, which is part of a holistic financial plan, is crucial. Also crucial is ensuring that you have an updated Last Will and Testament in place. A Will is a legal document that states your wishes if something should happen to you. It takes your dependants, assets and liabilities into account and ensures that your loved ones are cared for when you are not able to. 

“When I do an estate plan, I usually ask clients’ about their assets and liabilities, whether they have kids (minors) and pets. This information helps to put the necessary plans in place for the different ‘what if’ scenarios with the client. Our experience during Covid is that many people are not financially prepared for changes to their monthly income or life’s eventualities, like death,” says Monica Moodley, Legal Manager at Old Mutual. 

“Many animals were surrendered to shelters during Covid because their owners could no longer afford the financial expense of caring for them, either because their income was reduced or they lost their job, or, sadly, they passed away,” adds Monica.

These scenarios are traumatic and taxing on the family and the pets who are left behind. And with many shelters already filled to capacity, the alternative is a sad reality. To prevent this, have a plan in place for your loved ones, including your pets.

6 tips to ensure the wellbeing of your pet when ‘what if’ happens

1. Identify someone who you trust to take on the responsibility of your pet

Consider family and friends and have the conversation with them. You need to consider their lifestyle, living arrangements and home set-up. 

• Do they travel for work or move frequently? If they can’t take the pets with them, it could be distressing/unsettling to constantly have to adapt to a new environment.
• Do they have a partner, kids or pets? What are your pets like? Will they get along with someone else’s pets or kids? Does the person’s partner agree to it? Do they have any allergies? Know that circumstances change. While they may be available and willing to do it now, the situation may be completely different a few years from now.
• Do they live in a complex/house that can accommodate pets? Some buildings don’t allow pets or need the permission of the body corporate. Consider the space your pets have now. If you have a garden with lots of room, and the person who will assume responsibility for your pet lives in a 10th floor flat with a balcony, it may not be ideal.

2. Verbal agreements are not binding

Once all parties have discussed the details and agreed to your wishes, you need to put something in writing that the executor of your estate can enforce. Verbal agreements are not binding and can potentially leave your pet in limbo when people renege on their ‘word’.  

3. Make provision in your Will

Pets are not an asset and you cannot bequeath them to anyone. You can stipulate your wishes in your Will. 

You can list the specifics about how your pets should be cared for. What they eat and how frequently or any allergies. How long their walks must be or other activities they enjoy. What their favourite treats are and any other tips. The nominated person will then have this guide to care for your pets.

Problems arise when you have not had the conversation with the person you have stipulated and they repudiate (decline) the responsibility when your Will is read. The executor of the estate is then faced with a situation where he/she needs to decide what happens to your pets. If you haven’t listed an alternate option, your pets will most likely go to an animal shelter. 

4. Leave financial provision

The reason why many people are reluctant to accept responsibility for other peoples’ pets is because it is a huge task with financial impacts on their lives. Pets are expensive and if you’d like their lifestyle to be maintained when you are no longer there, you need to leave enough money to take care of their needs for the rest of their life, without infringing on the nominated person’s finances. 

Work out your pets’ budget, including costs for grooming, food, treats, vet bills, toys, alternative care (for when the nominated person goes on holiday and they can’t take the pet with, they’ll need provision for a pet sitter or a pet hotel), pet insurance and any other extras. This is part of financial planning because you are not only planning for your spouse and your kids, but also your pets. 

5. Have a backup plan

It is a good idea to have an alternate person listed in your Will as a backup plan for taking care of your pet, if the first person you’ve nominated is not in a position to do so. Make sure to discuss this with them and have them agree before you stipulate it in your Will.

Circumstances change, while they may agree to it today, a few years from now that person may no longer be in a position where they want to accept the responsibility. 

Alternatively, you can make arrangements with an organisation that will take in your pets and you can allocate the financial provision to them. Be sure to stipulate this in your Will to ensure your wishes are adhered to.  

6. Consider a Trust

There are more costly options to consider, like a trust. If you already have a trust in place and you’ve given custody of your pet to one of the beneficiaries, a clause can be included where a percentage of the income they receive from the trust must be used towards the pets. 

If you set up a trust specifically for your pets (testamentary trust), it can cost between R10 000 and R30 000 and it has ongoing costs for the trustees. They need to police whether what you’ve requested is being executed.

Not having a plan in place can cause uncertainty and unnecessary delays with the winding up of an estate, which can be costly. Make sure you make the necessary arrangements so there is little doubt about what your wishes are. 

Review your Will regularly as your personal circumstances change, to ensure that what is stipulated is still in accordance with your wishes. Ensure that your loved ones and your pets don’t have to worry about the future as they’ll already be dealing with your loss.