Horse owners will be all too familiar with the cost of looking after a horse, and the level of care that it requires. Depending on the type and level of care provided, and after paying for: feed, forage, bedding, insurance, visits from the Farrier and the vet or equine dentist, horse ownership can cost from the thousands to the tens of thousands per year. This article outlines some of the options available for those who wish to make arrangements for their magnificent, but expensive, creatures after they die.
Once a horse owner dies, whether they have made a Will or not, legal responsibility for the horse falls to the deceased’s personal representative(s). Accordingly, the personal representative will be responsible for meeting certain welfare standards as set out in the Animal Welfare Act 2006. This ensures that the horse’s basic needs are met, and that they are not subjected to unnecessary harm.
However, this does not mean that the horse will be maintained to the standard they were kept in while their owner was alive. This is why it is important to give careful thought to making adequate financial provision for the horse, whilst taking into account its changing needs throughout its lifetime. For instance, it could be that it falls ill, racking up heavy vet bills, or it could have foals that would also need to be looked after.
You may want to produce a Letter of Wishes which can accompany your Will to provide additional guidance for your personal representatives when they administer your estate. You can go into as much detail as you like regarding the maintenance and welfare of your horse and amend this as and when required, throughout your lifetime. For example, if you want your horse to be sold you can specify the requirements of a prospective buyer. You can also include information about the specific needs of your horse and how these should be met. A Letter of Wishes is not legally binding, but it can be very persuasive and impose a moral obligation on personal representatives, when making decisions.
Alternatively, you could gift your horse in your Will to a named individual or animal welfare charity, or you could set up a trust for its maintenance. Again, it is important to carefully consider the present and future circumstances of the horse and the person or charity receiving the horse, to ensure that its needs are met, and maintenance of it will meet your standards.
If you are interested in obtaining advice about any of the options above, or want to know more about Wills, Trusts and Estate Administration in general, please call our offices on 01206 764477 and ask to speak to a member of the Rural Affairs and Agriculture team, who will be pleased to assist.
