Did you know that you cannot leave a bequest directly to a pet? The law treats a pet as a possession. This means that you can leave your pet to a person (as a carer), but you cannot leave a sum of money directly to your pet. So how do you ensure the wellbeing and care of your pets?
According to Statista, 59% of all UK households have a pet. There are over 12.5 million pet dogs and 12.2 million pet cats in the UK. Have all of those owners considered what will happen to their beloved pet if they die? In most cases, we assume that a family member or friend will step in to care for the animal, but that doesn’t always work out. Now, not all of us have pets and the idea of leaving thousands, if not millions, of dollars sounds a little crazy. But to those of us animal lovers that have pets, it’s only logical and practical to ensure that your furry friend has some resources to be cared for once you’re gone.