Engaging in the process of estate planning is a very large undertaking, and there are so many things to consider it is possible that you can overlook some of them. Most people expect to outlive their pets, so you may simply never consider the fate of your fine furry friend when you’re planning your estate. However, your pet is going to need care if you were to pass away first and you must make the proper preparations to ensure you have all your bases covered.
The fact that you may predecease your pet should not stop you from considering pet ownership as a senior citizen. Owning a pet can cure some of the primary ills that our elders face from a psychological perspective. Having a fine furry best friend can assuage loneliness, and when you have a living being depending on you once again you can feel a reinvigorated sense of purpose. Pets can also provide protection in many cases depending on the type of pet that you have, and the fact that you must get the pet some exercise can give you motivation to stay active in your own right.
To make provisions for your pet or pets the first thing you must do is identify someone to take care of the pet after you pass away. Many people already have a likely candidate in place, a family member or friend who already knows the pet and has developed a relationship with them. Short of this you may be able to approach a pet adoption entity who will agree to find a home for your pet if necessary, perhaps in return for a donation.
You must also provide financial resources for the pet’s care. This can be accomplished through a bequest given directly to your caretaker. Another option that is available in some states, including Oklahoma and Missouri, is the creation of a pet trust. The best way to proceed would be to engage the services of an experienced estate planning attorney who will help you make sure that your pet is provided for after you pass on.
Larry Parman
Founding Attorney
Since founding Parman & Easterday in 1985, Larry has led over 1,000 free, community-service education programs and helped more than 10,000 Oklahoma families go from putting off their estate plan to getting it done. His goal for every client is the same: to become the person their family calls "the one who took care of everything."
Larry is the author of three books: The Straight Shooter's Guide to Estate Planning; Estate Planning Basics; and Guiding Those Left Behind in Oklahoma. He served as Oklahoma's Secretary of State and Secretary of Commerce, and his firm is the only member of the American Academy of Estate Planning Attorneys in the state.
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