Have you gained a four legged friend in the pandemic?.

During the pandemic many have expanded their families with the addition of a four legged friend.

With people spending more time at home and not spending their money on the likes of holidays the UK has seen a soar in demand for kittens and puppies. The RSPCA has reported that the number of people looking for puppies online during recent months soared by 650% and imports of dogs doubled.

Pets can bring much joy and enrichment to family life but they do come at a cost. The average upkeep cost for a cat or dog is around £1,000 a year increasing to upwards of £3,000 for a horse.

It is therefore important to give consideration to these extended family members when thinking about your Will

You can make provision in your Will for your pets to be gifted to specific family, friends or even animal shelters. You can also make financial provision for them to ensure that their new owner can afford their care.

Unfortunately death is not the only time that your pet may need to go into someone else’s care. Mental incapacity or sudden illness could create care issues for your pet during your lifetime. You can prepare for this by putting in place a Lasting Power of Attorney including clear guidance concerning your pets care.

So when making or reviewing your Will or Lasting Power of Attorney don’t forget to consider your furry companions.

If you would like to discuss Wills or Lasting Powers of Attorney please contact Hannah Green or Jeremy Duffy in our Private Wealth Team.

The contents of this article are intended as guidance for readers. It can be no substitute for specific advice. Consequently we cannot accept responsibility for this information, errors or matters affected by subsequent changes in the law, or the content of any website referred to in this article. © Mundays LLP

Insights.

Black Friday and consumer rights #SolicitorChat with The Law Society
26th November, 2020

Do you intend on bagging a bargain on Black Friday or Cyber Monday? Be careful, 2020 is likely to see people sticking with online purchases. Fiona Moss discussed with The…

WHO WOULD HAVE THOUGHT WE MISS OUR WORK COLLEAGUES?
23rd November, 2020

David Irving believes it is too premature to predict the death of the office. Who would have thought we miss our colleagues?

What is “independent legal advice”?
19th November, 2020

Fiona McAllister and Michael Brierley explain the mystery of when and why independent legal advice is required.

Tax – it’s only going in one direction
16th November, 2020

David Irving expands on the recent published Office of Tax Simplification CGT report and possible impact the report may have on the sale of businesses.