How to Include Your Pets in Your Florida Estate Plan

For many Florida residents, pets are more than just animals—they are cherished family members. Fortunately, including pets in your estate plan is not only possible, but it’s also becoming increasingly common.  Here’s how you can take the necessary steps to plan for your pets' care in Florida.

Step 1: Calculate the Cost of Your Pet’s Care

Before you can plan for your pet’s future, understand the cost of caring for them. Pet-related expenses can include food, grooming, vet bills, medications, and more. It’s important to account for any special needs or aging-related expenses your pet may face in the future.

Keep in mind:

- How many pets do you have?

- What are the annual costs for food, medical care, and grooming?

- How will these costs change as your pet ages?

Step 2: Choose a Caregiver and Trustee

Under Florida law, pets are considered property, which means they cannot inherit money or assets directly. Instead, you must designate a caregiver and, if necessary, a trustee. The caregiver will take physical custody of your pet, while the trustee manages any funds you’ve left for the pet’s care.

You might choose to leave funds with the caregiver directly, but it’s a good idea to establish a trust, ensuring that your money is used exclusively for your pet. In some cases, you can designate one person to act as both the trustee and the caregiver, but it’s often recommended to keep these roles separate to prevent any potential misuse of funds.

Step 3: Include Your Pet in Your Estate Documents

• Include a Provision in Your Will: You can name a beneficiary (your pet’s caregiver) in your will, leaving both the pet and the funds for its care to that person. However, once your pet is left to the caregiver, you have limited control over whether they follow through with your wishes.

• Establish a Pet Trust:  Florida law allows for the creation of pet trusts, a more formal and legally enforceable method of providing for your pet’s care. In this case, funds are specifically set aside to cover the pet’s needs, and the trustee must manage them for this purpose. 

Step 4: Update Your Estate Plan Regularly

Your estate plan should evolve with any changes in your life, including changes related to your pets. This is particularly important in Florida, where seasonal residents or snowbirds might need to make provisions for when they are out of state.

Step 5: Fund the Trust

If you establish a pet trust, make sure to adequately fund it. Some Florida pet owners prefer to fund the trust upon their death, so the money doesn’t get tied up beforehand. Others may choose to fund the trust immediately, particularly if they are concerned about incapacitation. This ensures the funds are ready to be used if something happensp to you while you're still alive.

Step 6: Plan for the Remainder

Once your pet has passed away, the funds remaining in the pet trust will need to be distributed. Consider naming a remainder beneficiary to receive these leftover funds. This could be a family member, a friend, or even a charitable organization like a local Florida animal rescue. Avoid leaving the remainder to the caregiver, as this could create a conflict of interest.

For more information, contact our office at Askew & Associates, P.A. by calling 954-546-2699.

Disclaimer: this blog post is not intended to be legal advice. We highly recommend speaking to an attorney if you have any legal concerns.