Why Americans Are Writing Their Pets Into Their Estate Plans

Nearly 70% of American pet owners would prioritize their animals' expenses over their own personal spending during a financial crunch. This shift in household priorities is increasingly reflected in legal documents, as a significant portion of owners now formally include their pets in wills and trusts to ensure long-term care.

Corp and Tech·August 19, 2026·reads: 381

The American Institute of CPAs (AICPA) reports that 95% of pet owners view their animals as family members, a sentiment that is fundamentally altering household budgeting and estate planning. Data from a July 2026 Harris Poll reveals that 62% of owners maintain a dedicated budget for their pets, with older generations showing the highest level of devotion. Among those aged 65 and older, 81% would sacrifice their own discretionary spending to maintain their pet's quality of life.

This emotional commitment is transitioning into formal financial strategy. Of the 73% of pet owners who possess a will or trust, 40% have already established provisions for their animals. Experts emphasize that while pets cannot inherit assets directly, legal arrangements like pet trusts provide a necessary safety net. Erin Itkoe, a CPA and member of the AICPA’s PFP Champions Task Force, notes that many people fail to consider their pet's future in the event of their own incapacitation or death. Documenting these wishes ensures that chosen caregivers are prepared and that funding is available for the animal’s ongoing needs.

Beyond estate planning, the AICPA urges owners to treat pet care as a core fiscal category. With annual costs for food, grooming, and routine veterinary visits averaging $1,515, owners are encouraged to build emergency funds and evaluate insurance coverage. As pets age and medical requirements grow, a proactive financial approach prevents unexpected veterinary bills from destabilizing a household budget.