12 Jul Can you leave an estate to a pet?

Q. Is it really possible to leave an entire estate to a pet? What happens after the family pet is deceased?
— Crazy!

A. We’ve got a lot of love for our pets, and caring for them once you’re gone is a concern.

But you can’t leave an estate directly to your pet.

Animals don’t have the right to own property — for one thing they don’t have the necessary legal capacity — but an estate, or part of an estate, can be left for the benefit of a pet, said Yale Hauptman, an estate planning attorney with Hauptman and Hauptman in Livingston.

Generally there are two options.

One is to set up a so-called “pet trust.”

“A trust document establishes the purpose of the trust — who it is to benefit — and how the assets held in the trust are to be administered for the beneficiary,” Hauptman.

He points to Leona Helmsley, the hotel heiress who left $12 million to her dog.

“She actually left the money in trust, managed by a trustee for the life of her Maltese,” he said. “The trust should also provide who receives any money left in the trust when the pet dies — a remainder beneficiary.”

Because animals are considered property, you must designate someone to take ownership and care for your pet.

A less expensive alternative than a trust is to leave your pet and a sum of money to care for the pet to a designated person without the need for a trust, Hauptman said.

“Of course, there is no guarantee that after you pass away the person doesn’t keep the money and give the pet away,” he said. “There is less structure and certainty in this arrangement than there is with a trust but it is also a less expensive option to set up.”

There are also organizations that care for animals when their owners pass away.

Hauptman said you can make a donation to the organization and leave your pet to the “home” and they’ll take care of the rest.

“These instructions can all be place in your will,” he said. “It is a good idea, however, that you check out the organization and the housing arrangements before you go this route to be sure you are completely comfortable.”

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This post was first published in July 2017.