Approximately nine percent of Americans have included their pets in their wills, according to HNGN.
The American Pet Association (APPA), an organization which stands for pet food and product manufacturers, confirmed that the number of American pet owners who named their pets on their wills has increased over the past couple of years. As of 2012, 68 percent of American households have pets, a six percent rise compared to 2010. Nine percent of cat owners have named their cats on their wills increased by up to three percent from 2010. Between 2010 and 2012, dog owners who made such provisions increased from five percent to nine percent.
"Many people think of their pets as family members and want to make sure they are all well provided for," APPA president Bob Vetere said. However, state laws prohibit pet owners from giving money directly to their pets because they are considered as property and cannot be bequeathed with property themselves. Those who wish to ensure that their pets are well taken care of long after they've passed may leave the money to a designated caretaker. It is stressed though that whoever is assigned as the caretaker does not have any legal obligation to actually take care of the pet.
According to trust estates and attorney in New York, Frances Carlisle, a much better option is to simply set up a pet trust which allows the pet owner to appoint a trustee, who will be legally obligated to care for the pet. The trustee will also be the one responsible in attending to veterinary obligations. "Pets aren't just for the wealthy. Most pet owners' goal is to make sure a plan exists for the care of the animal," Carlisle said.
