Why Estate Planning Should Include Your Four-Legged Friends

A recent article in the Toronto Star suggests that estate planning should include our four-legged friends. It's something I'd never thought about before but what would become of Christie (the dog) and Cloe (the cat) should they outlive my husband and I?We may assume that a family member will surely step up to look after our pets should we become unable to do so due to disability or death, but that isn't always the case. Apparently, the more likely scenario is that they would be taken to an animal shelter to be euthanized. Yikes!

There are steps you can take now in order to avoid that unpleasant outcome and make sure that your pets will be well cared for. In Canada, you can't actually leave money to your furry friends but you can:

Find and designate a caregiver and several alternative caregivers and name them in your will.

Figure out how much it will cost to look after your pet - food, vet bills, grooming, etc. - and provide a sum of money to the caregiver who accepts the responsibility of caring for your pet.

Alternately, you can instruct the estate trustee to dispense the money as needed. This would be based on sufficient evidence that the pet is still alive and also that the cost reimbursement being asked for is not unreasonable.

Just as deciding on an executor and who will inherit your possessions is essential to ensure that there is no bickering among family members after you're gone, planning ahead for the care and feeding of your pets, should you shuffle off this mortal coil before they do, will save a lot of confusion, inaction and/or grief for both the humans and animals you may leave behind.

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Marlene Alexander is a freelance writer and Dollar Store Diva. She writes tips and tricks for using the best that dollar stores have to offer.