Estate planning trend: providing for pets
An increasing number of people are making provisions for pets in their wills, Toronto trusts and estates lawyer Saman Jaffery tells the Globe and Mail. And she’s not surprised.
“The majority of dog owners consider their pets to be part of the family and often call themselves their pet’s mom or dad,” Jaffery, an associate with Hull & Hull LLP says.
But, she adds, “unless there are specific instructions, then the best intentions to have someone care for your pet can be set aside by someone who declines.”
Jaffery, an associate with Hull & Hull LLP, says that money can’t be left directly to a pet.
“In Canada, a pet is considered property, so you can’t gift property to property,” Ms. Jaffery explains.
However, she notes, “There are ways of planning.” Read Story in Globe and Mail
In a video with the newspaper, Jaffery outlines the best way to provide for pets in estate planning.