Making a will is an opportunity to ensure that your estate provides for your dependants, and benefits those who mean the most to you. For pet owners, this means planning for their pets in addition to their human loved ones. The number one question about pets is always a version of “Can I leave money to my pet?”
If a person literally means that they want to leave money or assets to one or more pets, then the answer to that question is no. In Ontario, pets are considered property and you can’t leave a bequest to a piece of property.
However, as every pet parent knows, their beloved pet is much more than just a piece of property, and you can use your will to make sure that your pet is provided for. Options range from the fairly simple: leaving your pet to the care of someone you trust; to the much more complex: creating a trust fund to finance your pet’s care.
The option that is best for you will depend on what kind of pet you have, the cost of caring for it, your pet’s expected life span, and your available assets. I know how important pets are in our lives, and that is one more reason to make sure you get personalized, professional legal advice when you are making or revising your will.