Real Estate Newsletter – Can pets be legal heirs to your property? : December 2024
Ratan Tata provisioning for his beloved German Shepherd, Tito, to receive unlimited care after his passing was one heartwarming news all over the internet. Pets truly hold a unique and cherished place in one’s heart, often becoming more than a family member.
It is important to consider their well-being and good health after their care-giver’s death. The estate planning and law of inheritance in India, does not give a succession status to pets. Indian laws interpret pets as property of the owner, meaning one piece of property cannot hold the title to another piece of property.
Having said that, there are steps one can take to ensure they are well cared after one’s passing:
i) Creation of a Private Trust (Pet Trust)
- Pet owners who wish to ensure the well-being of their beloved companions after their passing may consider establishing a private trust specifically for their care. This trust can be created during the testator’s lifetime, allowing them to retain control over the management and supervision of the trust’s operations. The testator can appoint trusted individuals, from among their acquaintances, who can act as trustees.
- A private trust is established under the provisions of the Indian Trusts Act, 1882 by executing a trust deed. The trust deed outlines legal binding terms of the type of care the pet should receive, medical treatment, food and housing.
ii) By creation of WILL:
Although a direct transfer of funds cannot be made, you may designate a person (or group of people) to be responsible for the pet’s care. Funds can also be allocated to that person for the pet’s better living. While identifying a care giver, one needs to consider the following:
- Select a reliable, capable person/ organisation who genuinely loves the pet. Discuss plans in detail to ensure they understand the expectations for care.
- WILL to specify detailed information about the pet’s daily routine, health care needs, food preferences, and any special instructions. This will make it easier for a caregiver to step in and provide the best care.
- Ensure that sufficient funds are allocated for the pet’s care, including food, vet visits, grooming, and other necessary expenses.
Conclusion
Pets may not have legal status as heirs, there are several ways to ensure they are well cared for after their owner’s passing. By using tools like pet trusts, wills pet owners can create a plan that addresses their pet’s financial, medical, and emotional needs.
