06 May 2020
With online searches about getting a puppy surging by 120% dog welfare charities are expressing concern there may be a spike in people giving up their dog when normality resumes since this is the reality that often follows Christmas when people also get dogs on a whim.
It is important when getting a pet that you need to consider how the pet will be looked after throughout its life, including making provision for your pet in the event you were to die.
What will happen to my best friend Harris if I die?
I agree life is for living and focusing on the positive is always the best approach. However, there comes a time when you have to stop, think about the future for ‘everyone’ important to you and make sure that your Will is up to date.
If tomorrow was your last day on this planet, have you made adequate provisions for those you leave behind?
What I have discovered over the years is that when it comes down to it, it’s not all about the diamonds and the Rolexes, it’s about those we love - our family (whatever that looks like).
As I walk Harris and hear my fellow dog walkers call their canine friends names such as Darcy, Megan and Gary…, I realise that for many, these dogs are their babies, their family.
So, what do we need to consider when thinking about our pets and what will happen to them when we ‘move on’?
Looking at your family and friends, is there an individual who would be pleased to take on the responsibility of looking after your pet?
Is there a rehoming charity/organisation near you, or specific to your breed of dog who could be tasked with finding a new home?
In both cases, what level of payment (known as a legacy), should be made to the person or charity to cover ongoing expenses for looking after your pet?
To discuss this and all of your Will, succession and Inheritance Tax planning issues, contact the BTO Personal Team.