We’re a nation of pet owners and animal lovers. A 2011 survey
showed that the number of pets in New Zealand is 5 million – that’s compared to
4.4 million humans! 68% of households own at least one pet and this is higher
than in any OECD country.
The significance of this survey is that it shows us just how
important our pets are to us. So what would happen to them if we were no longer
around? Making plans in your will to care for your beloved cat or dog may sound
a little silly – owners normally outlive their furry companions - but it’s a smart idea if you want to ensure
that your pets are well looked if something were to happen to you.
In the confusion that follows someone’s passing, pets may be
overlooked. Here are some ways to plan ahead:
- Speak to a friend or family member. Leaving your pet with someone you know and trust (and who your pet may know and trust!) may be the best option. Have a conversation with them and make sure they’d be happy to take on your pets.
- You can’t leave money to your pets as they’re viewed as chattels by the law. You can, however, leave money to your friend and state that you wish it to be used to look after your pet.
- Another (slightly more costly) option is to establish a trust. You can set aside money to be used specifically for the care of your pet, and then appoint a trustee to control the funds. Work out how much it costs to look after your pet, and leave enough for a good few years. The benefit of a trust as opposed to a will is that a trust can become effective while you are still living, whereas a will only applies if you die.
- You may also wish to consider leaving your pet to a charity. The SPCA will take pets left to them in a will and try and find them a new home. You may also wish to consider leaving them a bequest while you’re at it.
