Make A Will Month: Planning For Your Pet

Did you know that nearly 3 in 10 Canadians adopted a pet during the pandemic? Pet ownership in Canada increased significantly in the last three years with over 60% of Canadian households having at least one pet.

The pandemic highlighted the special relationship we have with our pets. Pets provide a range of mental health benefits to their owners. It is not surprising that many Canadians (myself included) have taken comfort in pets as a way to cope with the isolation of the pandemic. Pets are relied upon for companionship, to keep us active, to assist with enduring stressful situations, and to generally improve our quality of life.

Pet owners often consider their pets to be members of their family. Nonetheless, of the millions of pet owners in Canada, less than one-third have made any provision for their pet's care on their death or incapacity. Of that third, only 7% have made a formal arrangement for their pets in their estate planning documents.