One million dogs in the United States have been named primary beneficiary in their owners wills, according to Time.

Estate planning is often associated with passing down financial assets to loved ones, but it’s important to remember that we love our pets too, and we should consider how they’ll be cared for after we’re gone. As a pet owner in California, we recommend considering your furry friends when creating your estate plan.

Who will care for your pet?

The first step is to identify who will take care of your pets in the event of your death. This can be a family member, friend, or even a professional pet sitter. You should talk to the person you have in mind and make sure they’re willing and able to take on the responsibility. It’s also a good idea to have a backup plan in case the first person is unable to care for your pet.

Create a Pet Trust

Once you’ve identified a caretaker, you should create a pet trust. This simple legal document ensures that your pets will be taken care of financially after you’re gone. The trust can include funds for food, veterinary care, and other expenses related to your pet’s well-being. You can also designate specific instructions for how your pet should be taken care of, such as their diet, exercise routine, and any special needs they may have.

It’s important to keep in mind that not all assets can be transferred directly to a pet. For example, you can’t leave your house to your dog. Instead, you’ll need to leave the asset to the trust and designate the trust as the beneficiary. This ensures that the asset will be used for the benefit of your pet.

Does your cat have Facebook?

Social media is full of videos of funny cats and friendly dogs. Many owners have created distinct Facebook pages, Instagram accounts, or YouTube channels for their beloved pets. When it comes to these types of digital assets, there are several considerations to keep in mind. It’s helpful to include instructions for how these accounts should be handled after you pass away. For example, you can designate someone to take over the accounts or include instructions for them to be archived or deleted.

Other digital assets related to your pets might include photos, videos, and other digital media. You can include instructions for how these assets should be handled, such as being given to the pet’s caretaker or donated to a pet-related charity.

Additionally, consider what should happen to whatever money or assets are left over in the pet’s trust after the pet passes away.

Update your plan regularly

It’s important to review and update your estate plan regularly, especially when it comes to pets. As your pet’s needs and caretakers may change over time, it’s crucial to ensure that your estate plan reflects these changes. You should review your plan annually or after any major life events, such as a divorce or the birth of a child.

In conclusion

In conclusion, as a pet owner in California, it’s important to consider your pets when creating your estate plan. Designating a caretaker, creating a pet trust, and including instructions for digital assets related to your pet are all crucial components of a comprehensive estate plan. By taking these steps, you can ensure that your little buddies will be well cared for after you’re gone.

Please call (424) 400-2125 if you have questions or would like further information!