As you enter into retirement, your pet may be getting older with a life expectancy much shorter than your own. A common mistake made by retirees is immediately replacing “Muffin”, “Mittens”, or “Buster” without carefully evaluating the impact of the decision on their retirement plan.

Consider a retiree who plans to travel, volunteer, and have hobbies outside of the home. They now have a new pet – possibly a kitten or puppy – and are limited to out-of-home activities because of the need to care for the animal. As the pet grows, there may be difficulty in leaving it for weeks at a time, especially when traveling or going on vacation.

More often than not, family and friends are reluctant to look after your pet, especially for long periods of time. The cost of kennelling can be high, not to mention the emotional aspects of leaving your pet in a strange place. If you plan on taking your pet with you when you travel, you may experience many hotels, inns, and bed-and-breakfasts that do not allow them.

If you currently own a pet, there will come a time when you and your spouse/partner will face its passing. Prior to this happening, take time to discuss the advantages and disadvantages of obtaining another pet. Discuss your future retirement plans and determine if a pet is part of them. It is important to seriously consider the ramifications and commitment of owning another pet.

Questions: 1. If our current pet dies, would we want another? Why and why not? 2. What problems may stem for us getting a pet at this stage of our lives? 3. What changes in our lives would make us consider getting a pet in the future if we don’t currently have one now?

Now let’s discuss what happens to your pet if you are incapacitated, hospitalized, or you die. As a pet owner, you should have a plan for the care of your pet.

1. Arranging for short-term care. Try to find a friend or relative who is willing to take care of your pet during any short-term periods brought on by illness or hospitalization. If you live in an apartment or condo, consider giving your caregiver a key and written permission to enter the building and your unit.
2. Arranging short-term care at a shelter or charitable organization. In the event of your hospitalization, provide the shelter or organization with written instructions and permission for taking care of your pet. It’s also a good idea to leave written instructions with a relative or friend, regarding the shelter caring for your pet.
3. Designated caregivers. Find a friend or relative willing to take your pet and give it a good home if something should happen to you. This matter should be discussed in advance with your potential caregiver to make sure your animal will be care for appropriately. The person who is to receive your pet as a result of a bequest in your will should understand that he/she becomes the pet’s new owner and as such, has all the rights and responsibilities that go along with it. It is a good idea to name alternate caregivers as well, in case the first-named person is unable or unwilling to take your pet when the time comes. You may wish to leave a sum of money for your pet’s designated caregiver along with instructions that it be used for the care of the animal.
4. Designating a shelter. If you cannot find a friend or relative willing to take your pet, look for a charitable organization whose function is to care for or place, companion animals.
5. Providing for euthanasia if caregivers cannot be found. While you may feel it’s important to protect your pet from mistreatment or a ‘bad home’, it is questionable whether a healthy pet’s life should end by euthanasia when you die. Nevertheless, if you wish to provide for euthanasia, speak to your lawyer about specifying in your will that your pet is to be cared for by your executor or a friend for a specified period of time. During this time, ask that this person attempt to find a good home for your pet. If no home is found after a reasonable effort and time, indicate that your pet may be euthanized.

As with all aspects of retirement, the ownership and care of pets requires a lot of discussion and planning. Don’t rush into anything. Try to remove emotion from the decision process and think about the impact, both positive and negative, a pet will have on your retirement.