Estate Planning Essentials for NJ Pet Owners

We want to make sure that our loved ones are protected when we pass on and, sometimes, that includes our pets. Pets are legally considered property under New Jersey law, so while you can leave your pets to someone in your will, you cannot directly leave other property to your pet. So, what can you do now to ensure that your pet has the care and protection they need when you pass on? Well, there are several options available, but they all require proactive estate planning and action.

Ensuring Your Pet’s Needs Are Met For the Future as Part of Your Estate Plan

Lack of Security in Informal Arrangements

Some owners may choose to rely on informal, verbal agreements with family members or friends regarding the care of their pet after they pass. However, if you do not put these wishes into writing, the person could forget or misunderstand your wishes, or another family member may insist on taking the pet instead. If you do not memorialize your wishes, then there is far from any guarantee that the court will enforce them.

Pros and Cons of Including Your Pet in Your Will

If you wish to more directly designate who should care for your pet, you can do so in your will. Other property and money, though it cannot be left to your pet, could be left to the person you have entrusted your pet to. However, there are limitations to this option. The court cannot require that the individual spend any money you left for the care of your pet on the pet. The other funds and property will go straight to the person they were divested to who may or may not use them for your pet. Another downside of this option is that a will must go through probate and this could cause delays in transferring your pet to their new caregiver. It is important to note, however, that the person is not prohibited from taking custody of the animal while the estate is still going through probate but a court may be unable to order that the pet be transferred to their custody until the process is complete.

Enhanced Protections in the Form of a Pet Trust

Another option is to form a pet trust. This is a type of legal trust that allows you to designate a caregiver for your pet and even allocate funds to be used specifically for your pet’s care and designate exactly how they should be used. For example, you can specify that a certain amount of the money should be spent on food and detail the type of food they should purchase or how much money should go toward grooming and where they should be brought for grooming. A pet trust remains in effect until the funds run out or the pet passes away.

Choosing Your Pet’s Future Caregiver: Compatibility, Space, and a Backup Plan

When selecting a caregiver for your pet, there are several considerations you should have in mind. First, is there someone that your pet really likes and who likes your pet a lot too? As you have surely come to know, a good relationship is important to both the pet and the caregiver. This is particularly true with certain types of pets like dogs, cats, and other mammals.

Next, consider which potential caregiver has the physical space for your pet. If you have a small dog this calculation will be a lot different than if you have a Great Dane, a horse, or even a very large aquatic fish tank. It is also important to consider the health, lifestyle and existing life demands on the person you are considering for a caregiver.

Even if you think you have selected the perfect caregiver for your pet and they have agreed to the job, it is wise to also name a backup option in case the caregiver is unable or unwilling at that time to care for your pet.

Understanding the Financial Aspects of Pet Care in Estate Planning

If you were to add up your pet’s annual costs, including their goods, grooming, and veterinary bills, one can only expect these to increase as your pet ages. Just like humans, pets are more prone to develop cancer, kidney conditions, and more as they age. You may wish to not only ensure that your pet will have access to the healthcare they need after you are gone but also avoid those needs causing a burden to your other loved one.

Why Your Pets Need a Precautionary Emergency Plan

Our pets are as dependent on us as children, and yet, if something were to happen to a parent of a child, their babysitter, teacher, another relative, neighbor, or even the police would likely quickly step in and ensure the child is brought to a safe place and cared for. However, when it comes to pets, those plans or even knowledge of the pet itself may be less known. Therefore, it is wise to take a few simple precautions like carrying a card with information about your pets, care instructions, and the phone number of someone who can be reached to care for them.

Secure Your Pet’s Tomorrow by Working with Bronzino Law Firm for Comprehensive Pet Estate Planning in Monmouth and Ocean County NJ

If you are a pet owner who worries about your pet’s future if you were to pass, it is wise to take some prudent steps to plan for their care. While there are several options available, a pet trust can provide you with added peace of mind, knowing that funds are available and earmarked for the care of your critter. It is also very important to regularly revisit and revise your plans for your pets in your estate plan, as pets change and available or willing caretakers may also change. To speak with one of our knowledgeable New Jersey estate planning attorneys about how to best address your pet’s needs in your estate plan, please contact us today for a free consultation. We assist clients with ensuring their pets are cared for in Manalapan, Red Bank, Bay Head, Middletown, Ocean Township, Asbury Park, Jackson, Brick, Sea Girt, Point Pleasant, Seaside Heights, and elsewhere in Ocean and Monmouth County. Contact the Bronzino Law Firm at (732) 812-3102 to learn more.