Because more and more couples are opting to adopt pets, pet prenups are becoming more popular as well. Many couples, especially millennials, are foregoing having children and are instead buying pets. And those pets become like family members. However, what happens to those pets when their humans divorce? Unfortunately, in the eyes of the law, pets are property and will be allocated like any other asset to one spouse or the other. A pet prenup will allow you and your fiancé to decide how you want your pet custody to look in the event of a divorce. You can make provisions for keeping up with pet costs as well as a schedule for visitation. Hopefully, knowing that you are taking care of your furry friends before you even walk down the aisle will give you peace of mind.
Pet Prenups: What to Know in Order to Protect Your Furry Friend
What is a Petnup?
Although pets feel like members of the family, the law does not view them that way. Like all other assets and property, pets get divvied up between divorcing spouses. This means that one person or the other will have sole ownership of the pet. A pet prenup allows couples to choose who will take ownership in the case of a divorce, how they’ll split up their time, and how they’ll care for the pet financially.
Things to Consider
If you are coming into a marriage with a pet in tow already, pet prenups can be especially helpful. They can ensure that in the event that you and your spouse get a divorce, that you’ll get to keep your animal. If you and your fiancé are purchasing any pets together, then a prenup can help you decide how to fairly create a custody schedule.
Cost of Pets
Although most pet owners don’t realize it, pets can cost many tens of thousands of dollars over the course of their lifetime. Between pet insurance costs, grooming, boarding, and medical bills, your animal can rack up quite the bill. Pet prenups allow couples to decide how to mutually allocate funds for the maintenance of animals that they purchase together. Many choose to open a joint account where they deposit money monthly for their furry friend’s upkeep.
Pet Custody
Finally, pet prenups can lay out pet custody and visitation. After a divorce, one spouse will be the sole owner of the pet. However, if you have a pet custody plan in place, you can ensure that even if you don’t own the pet that you still get time with them. Many divorced pet owners share custody and switch off months with their animals. Pet custody might seem like a silly concept, but pets can become incredibly important parts of our lives. Suddenly living without them can be more painful than many people realize.
Pet prenups are rising in popularity because pets are treated more and more like members of the family. And although the court will give sole ownership to only one of you, a pet prenup allows you to share custody in the case of divorce. If you are already coming into a relationship with a pet, it’s even more important to secure that pet’s future in the event of a divorce. A prenup can help you decide how to financially take care of your pet after a split, and it can also guarantee visitation or custody rights. Although to some it might seem silly, dedicated pet owners will understand that providing for your pet’s future is an important aspect of being a pet parent.