More People Writing Pets Into Will

More people are writing their pets into their will and lawyer Barry Seltzer has the scoop on how to divvy up your estate among Fido and Fluffy.

Friday, May 21, 2010 1:46 GMT

According to Toronto-based estate planner Barry Seltzer, more people are writing their pets into their wills.

The lawyer and co-author of the new book, Fat Cats & Lucky Dogs: How To Leave (Some) Of Your Estate To Your Pet (Prism Publishing), says at least three out of 10 of his clients ask for specific “pet provisions” when drafting their death wishes.

He believes establishing a trust for a pet is smart, that way Fido will be properly taken care of should anything happen to an owner.

The trust can include enough cash for a pet’s care, food, and shelter, and arrangements can be made to appoint an alternate caretaker.

On average, Selzter says owners leave their beloved pets anywhere from $5,000 to $20,000. He’s even seen cases where they allot more of their estate to their pet than their human loved ones, like the $12 million Leona Hemsley tried to leave her pooch.