How to Plan for Your Pets in Your Will

You might be aware that as your family grows, whether through marriage or the arrival of a child, it's crucial to create or update your will. But have you considered what happens when a furry friend joins the household? Surprisingly, this also warrants updating your will. Shockingly, only 6% of pet owners in Sweden have designated a pet guardian in their will, while 44% haven't even thought about planning for their pet's future in case of their own demise. Sadly, this oversight is a leading cause of pets ending up in shelters—when their owners pass away without a plan in place. If you have a pet, here's what you should do to ensure they're taken care of if something happens to you.

Make A Will

Although 24% of Swedish pet owners have an informal arrangement in case they become unable to care for their pet or pass away, formalizing that plan in your will is the optimal way to guarantee your pet's well-being even after you're no longer around. While you might assume that a friend or family member will step in to look after your furry companion, sadly, that's not always the case. By including provisions for your pet in your will, you're adding an extra level of assurance to your plan and giving yourself the peace of mind that your beloved pet will be cared for in the event of unforeseen circumstances.

Choose A Pet Guardian

So, you probably already know that if you have kids, you've got to pick someone you trust to look after them if anything happens to you. Well, guess what? The same goes for your furry friends! Yup, it's time to choose a guardian for your pet – someone who's got your back and will treat your pet like family.

Now, quick heads up: unlike kids, pets aren't considered dependents. They're more like your prized possessions in the eyes of the law. So, the rules for choosing guardians for children don't apply here.

Next up, you gotta have a heart-to-heart with your chosen guardian. Make sure they're up for the job and able to handle the responsibility. Chat about your pet's needs, quirks, and routines – basically, spill all the details so they know what they're signing up for.

Oh, and here's a pro tip: jot down a pet care plan. Include everything from feeding schedules to exercise routines and any special needs your pet has. Stick it with your will so your executor can hand it over to your guardian when the time comes. Easy peasy! 🐾

Allocate Resources In A Pet Trust

Just like you'd set aside funds for your children or other beneficiaries in your will, it's equally crucial to allocate money for your pet's caretaker. This is especially vital if your furry friend has any health issues, belongs to a breed prone to health complications, or if their upkeep is on the pricier side (think horses!).

Setting up a pet trust ensures that your beloved companion will receive proper care and spares the guardian from unexpected financial burdens. It's a smart precaution to take.

When planning, don't forget to budget for daily expenses like food and grooming, as well as a sum to cover potential vet bills and medical treatments throughout your pet's lifetime. This way, you can rest assured that your furry buddy will be well taken care of, no matter what.

Update Your Will

Life is like a rollercoaster, always throwing us twists and turns. We welcome new family members, tie the knot, or sometimes part ways. And let's not forget the furry additions to the family! With every major change, it's crucial to give your will and related plans a tune-up to keep them shipshape.

Here's the deal: Set a reminder to review your will annually. Check if your pet's details are still accurate, ensure your chosen guardian is still on board, and take a peek at other important bits unrelated to your pet.

Life's unpredictable, and our fur babies deserve a solid, foolproof plan to ensure they're looked after even when we're not around. Let's keep their tails wagging and their purrs going strong!

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