What happens to Your Pets When you Pass Away?
In addition to the human members of one’s families, many individuals also have animal members of their family. Because pets are so important to many families, it is often appropriate to make provision in one’s will or trust for one’s pets. While pets cannot take under a testamentary will, a pet owner may still be able to set money aside and account for her pet’s care. An owner may create a pet trust under state law or may grant a person with the authority to care for their pet as a guardian.
You may have heard of celebrities in the news giving large devises to their pets, which may have been upsetting to other beneficiaries (or people who thought they should have been beneficiaries). For example, Leona Helmsley left $12 million to her dog, opting to leave her grandchildren out of her will. When a devise to the pet is considerably large, however, a court may step in. Leona Helmsley’s dog wound up only inheriting $2 million after a court determined $12 million was too high.