When Diane Keaton died last year, she allegedly left $5 million for her golden retriever in a pet trust. The amount is movie-star-level. However, estate-planning attorneys say taking steps to protect a beloved pet is a wise move, as discussed in the article “Why Your Pet Should Be In Your Estate Plan” from Kiplinger.
If there’s no plan, the pet’s fate will be left up to chance. While 97% of pet owners consider pets part of the family, only half of those with an estate plan have made provisions regarding who will care for their animal family members. When arrangements aren’t made in advance, the pet can end up in a shelter or even euthanized. Prior planning can prevent this sad fate.
Name a successor. Have a serious conversation with a friend or relative you trust to take care of your pet. To ensure that your wishes will be followed, get a written, legal arrangement, such as a pet trust. Make sure the person has a suitable home and circumstances. Name at least one backup. Have this conversation every year to be sure the person is still willing to take on the responsibility.
Set aside money for the pet’s care. Set aside money, either in a will or a pet trust, to cover the cost of your pet. This needs to include vet bills, food, toys, boarding and grooming. The amount will depend on your circumstances and the type of pet. A horse will need a far larger trust than a 15-year-old housecat, for example.
Make it legal and binding. The law does not allow money to be left directly to a pet. However, you can leave the animal, which is considered property, to the person you want to care for it, along with instructions and a bequest to cover the costs. This provides stronger protection than a verbal agreement. However, it has some vulnerabilities.
A will won’t address your pet’s care if you become incapacitated. This is why a pet trust is a better alternative. It allows you to name the caregivers and alternative caregivers, allocate funds for care, specify how you want the funds spent and name a person or charitable organization to receive any remaining funds when the pet dies.
A trust is legally binding, which means you can name a trustee to oversee the funds and be sure that the caregiver is caring for the pet as directed in the trust. Leaving a bequest in a will for the pet’s care isn’t enforceable.
Another option is to identify an animal rescue organization with a program to care for pets if the owner can no longer care for it or passes away. They provide rehoming, fostering, and in some cases, lifelong care for pets. There may be a donation required, but lacking an alternative, it may be a better solution than just hoping someone will take your pet.
Talk with your estate planning attorney to learn if your state allows pet trusts and what organizations in your community may be able to take your animal companion, if necessary.
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Reference: Kiplinger (Feb. 28, 2026) “Why Your Pet Should Be In Your Estate Plan”
