Pets can’t inherit money directly, but your Will can transfer your pet to a person who will be able to provide care for your pet in the future. Selecting the right person is important:
Trusts for pets are another approach that can work. The pet is owned by the trust. The trustee has to carry out the terms of the trust and can be held accountable.
However, it takes money to set up a trust, money to maintain a trust, and money to compensate a trustee.
Finally, Wills in New Jersey can also have small informal notes that are signed and dated and instruct their Executors how to handle personal property. A note about caring for a pet, what a pet needs, or whether to cremate or bury a pet after their death can be very helpful to your family and provide you with peace of mind.
This information is an informal summary intended to help you identify issues and should not be taken as legal advice. Different legal issues may apply to someone in your circumstances or to people in different jurisdictions.
For further information regarding wills and estates, please contact Robert Moshman, Esq. 179 Cahill Cross Rd #206, West Milford, NJ 07480 (973) 657-1110