Hotel billionaire Leona Helmsley shocked many people in 2007 when she left a $12 million trust fund in her will to her little Maltese named Trouble. Trouble turned out to be aptly named. The little dog received death threats and now has to have bodyguards. His trust fund was reduced by the court to a measly $2 million. But he's still living a pretty good life in a mansion without his mistress.
Maybe we can't all make such lavish provisions for our pets after we're gone but it is a good idea to think about what will happen to our dogs when we can no longer care for them. Many of us are in a position to choose someone to care for our dog if something should happen to us and we can set aside some funds to provide for our dog's upkeep.
Once you determine that you want to include your pet in your will you will need to carefully consider who you will ask to be your pet's caretaker if you should die. This is the most important decision you will make for your pet. This person will be your dog's new owner or they may be responsible for finding your dog a new home, so you should choose carefully. Ideally you want to pick someone who is animal-friendly and very trustworthy. This person may be responsible for feeding your dog, fostering him, handling veterinary matters, and even making end-of-life decisions for your pet. They will also be in charge of any funds you leave for your pet so you want them to have good judgment and character.
If you already have a will then it's not difficult to have a codicil added providing for your pets. Once you have chosen a person to care for your animals you will need to come up with a sum to provide for their care for the remainder of their lives. Figure up how much you spend on each pet per year and estimate how long your pet may be expected to live. Consider pet food, vet care and other expenses. Add the cost of any major health problems and how much treatment may cost. You'll have to decide if you want your pet's new owner to go to extreme measures to treat diseases and health problems, keeping in mind that some treatments may cost thousands of dollars. These are tough decisions. If you leave most of your money to your pet for possible medical treatment in the future it will cut down on what you can leave to other people.
If you don't yet have a will you should have one made, especially if you want to provide for your pets. You want to avoid any confusion over your pets' future after you're gone. Be sure to discuss these arrangements with your family and friends before you make them. You don't want your friends to be unaware of what you're doing or of their responsibilities; and you don't want your pets to be left uncared for if something happens to you. Everyone involved should be clear about your wishes. You don't want to have your pets sent to an animal shelter because people didn't know what you wanted.
As hard as it is to think about, your pets may outlive you. For their sake it's a good idea to make plans for their future without you. Planning ahead is just one more way you can show your love for your pets by caring for them when you're gone.
