Our pets are a part of our life. We rely on them for companionship and they rely on us for care. It’s an awesome responsibility, and a strong relationship that is created.
If you go on a trip, or you plan for some other temporary hiatus, then you routinely handle those things necessary to make sure that your pets are going to be well cared for.
But what happens if you are unable to take care of your pets because of your own illness or an unexpected situation?
With luck, someone close to you will know your pets and will take a leading role. You know all too well that the Vet visits and bills for sick and well care, payment for food expense and arranging for grooming doesn’t stop. If you are incapable of making payments and arrangements, then you have to rely on the good nature of a good samaritan, or someone might involuntarily make that decision for you.
Or, you can be sure that you have a Power of Attorney for Property in place so that your appointed Agent can step in and help to take care of things, including your pets, without much delay.
A Power of Attorney for Property, sometimes called a Power of Attorney for Finances, is designed to be sure that someone is able to handle your financial affairs during periods of your incapacity, without the need to have a court appoint a guardian for that purpose. Guardianship proceedings in Court can be quite expensive. The POA on the other hand is not expensive to create. And you decide who is appointed to be the Agent.
Here’s how it works:
You identify the person who will be your “Agent”. This is the person who is going to step into your shoes as they say to take care of your financial matters if you cannot do so. The POA is effective whether temporarily or on a permanent basis. Attorneys recommend that you select at least one successor Agent. In this way, if your initial agent is unable or unwilling to act in that role then you have identified at least one back-up. You can make changes whenever necessary.
Your Agent is a fiduciary, meaning that your Agent has one of the highest duties in the law to act for you, in the same manner that you would act for yourself, to safeguard your property and handle the Agent’s responsibilities. The Agent cannot commingle your funds with their own.
The Agent can take steps necessary to care for your pets and to pay for care, in addition to the many other things that are needed to be handle your personal matters on a regular basis during times of incapacity. This includes contracts for services and renewal of contracts, paying bills, handling purchases and sales, filing tax returns, applying for benefits, hiring an Attorney or other professional, and much more.
For your pets, think Vet visits and bills, medications, contracts with sitters, boarding arrangements, and paying for out of pocket expenses for food and other payments and expenses.
And if your Agent is unable to manage the pet responsibilities on her own, then she can delegate the responsibilities to another who is capable and compentent to do so.
Does the Agent under your POA continue to manage these matters if you should pass away? No. The Agent’s power to act for you under a POA does not continue after you are gone.
If you are concerned for the continued care and ownership of your pets following death, consider discussing with your Attorney the use of a Pet Trust or the other means available for that purpose.
You can plan for the continued care of your pet through your Last Will And Testament or your Living Trust by use of specific Estate Planning tools designed for personal and financial care continuation for your pets.
If you are concerned for your pets’ welfare, then you will include instructions in your Estate Documents so that the important people you have selected to be Executor or Trustee will know how you have decided to handle those matters. Who will be identified for adoption of your pets? Who will have responsibility to care for your pets until they can be placed for adoption with others in the event that the person you hope to be your pet’s new guardian cannot do so?
And, of course, will you arrange to set aside funds for your pet’s care? Will that be a simple, general gift to the new parent for your pets? Or, is the gift to be made in your Will or Trust be held and distributed over time? These are just some of the questions that will require planning and drafting.
Illinois adopted the concept of the Pet Trust many years ago. If you would like to discuss the use of such trusts and the other subjects in this article, reach out to the Attorneys at Marc D Sherman & Colleagues PC to set up a time to discuss your thoughts. Find our contact information here: https://mshermanlaw.com/contact/
