It’s National Dog Day, and also the dog days of summer, which raises an interesting estate planning topic: what happens to your dog (or cat, pig, rat...) if something happens to you?
Washington law considers animals and pets to be your personal property, which means you get to decide who should receive them at your death. You’ve got a few options when it comes to deciding where your pet should go if something happens to you.
The simplest and most common way to plan for your pet is to name them on a list of personal property and state who should receive them. In Washington, you are permitted to make a list of personal property items and designate to whom each item should be given at your death. As long as this list is signed and dated by you and kept in a place where it can be found, it will be honored and the items on your list will be distributed to the people you listed first, before the rest of your estate is distributed under your will. These lists are great for sentimental items, things you can see and touch and also your pets. Note: they do not work for money, bank accounts, stock, real estate, financial accounts, etc. This means that while you can list who should receive your puppy if you pass, you can’t use the list to give the person taking your dog a monetary gift to help out with care. If that’s not a concern, the list will work fine. If you don’t have a personal property list like this but would like one, email or message us at: hello@kampbell-law.com and we’ll send one to you.
If you not only want to say who your pet should live with but also provide instructions or funds from your estate to help fund care for your pet, it’s better to put this information in your will. We would call this a specific bequest and you would be able to name who should receive your pet and make a monetary gift to that person to help with your pet’s ongoing care and expenses.
If you want to go a further step and require specific types of care, certain things that should be paid for for your pet’s care on an ongoing basis, then you may want to set up a trust for your pet. A trust names someone to care for your pet and manage funds to be used for your pet. It also creates a plan for who (or what organization) should receive any remaining funds at the eventual death of your pet.
At Kampbell Legal Planning, we’re all about planning for what matters most to you. If your pets are your life or an important part of your family, then we can make sure they will be safe and sound no matter what. Have questions about this? Give us a call (253) 564.2088 or email us: hello@kampbell-law.com
