Brits secretly leave £26 billion inheritance to their pets

British pet owners set to bequeath a staggering £26 billion to their pet and many will do so without telling their family or friends.

The new findings from MORE TH>N Pet Insurance reveal that over a third (35 per cent) of pet owners plan to leave their pets over £10,000 in their wills, with a further 37 per cent admitting that they intend to leave more to their furry companion than a close relative or family friend.

And it's not just money that pets will inherit. Over a fifth of owners plan to leave them the family home and a quarter of pets (27 per cent) will inherit a wide range of sentimental personal items, including:

Half of pet owners who included pets in their wills did so because they did not want their pet to end up in a rescue centre. When considering their pet's future, 70 per cent of owners made arrangements with family, friends and neighbours, while 19 per cent intend to make provision in their will for a full time pet sitter.

John Ellenger, Head of MORE TH>N Pet Insurance said: "Pet owners are naturally concerned about the long term care of their pets and many are taking the necessary steps to make sure they are provided for in their wills. If you are considering putting your pet into your will it is advisable to seek legal advice to ensure that your wishes are carried out and that a potential caretaker is nominated to look after the welfare of your pet."

In response to the increasing demand from pet owners to make their pets a beneficiary in their wills, MORE TH>N has extended its Legal Services product to include advice for the inclusion of pets into wills.

To ensure that your pet is provided for in the future, follow MORE TH>N's top tips:

1. Consider your pet's expected lifespan, the cost of upkeep for the rest of its life and who will look after your pet should you die.

2. If you have selected a family member or friend to take care of your pet, talk to them to see if they are prepared to take on the duties of looking after your pet.

3. If you do not have a suitable friend or family to look after your pet, or if you want a back-up plan, you can consider placing your pet with a suitable animal welfare charity for re-homing, such as the RSPCA's ‘Home for Life' or the Blue Cross ‘Pets Into Care' scheme.

4. Clearly state in your will who your money and assets are to be left to and how your pet is to be cared for.

5. Gifts of money can be left to a friend or relative with a non-binding request that they look after your pet. Alternatively, gifts of money or a general donation can be left to charities to assist them with your pet's upkeep.

6. You cannot leave gifts of money directly to pets in your will; although we think of pets as part of the family, pets are considered in law as items of property.

7. As well as writing a will, you should think about what would happen if you died suddenly by informing family, friends, neighbours or even work colleagues what to do about your pet in case of an emergency.

For further information on MORE TH>N Pet Insurance or MORE TH>N Legal Services go to morethan.com.