Summary: A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates on the death of the animal or, if the trust was created to provide for the care of more than one (1) animal alive during the settlor's lifetime, on the death of the last surviving animal.
Summary: Co-executor of an estate petitioned the Westchester County Surrogate's Court for a decree in accordance with EPTL 7–8.1[d] reducing the amount of money to be transferred from the estate to the trustees of a testamentary pet trust established under the decedent's will. Since the decedent gave very specific instructions as to how she wanted her cats to be cared for and the petition was in opposition to the decedent’s wishes, the court denied the reduction.
According to a Gallup Poll conducted in 2007, 59% of Americans own a cat or dog. Most of these same people view their companion animals as members of the family. The importance people place upon companion animals has only increased in recent years, both in terms of the amount of money spent on them and the reported emotional value owners place upon those pets.
Summary: This statute represents Wyoming's pet trust law. The law provides that a trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the last animal named in the trust.
Summary: These West Virginia statutes regulate trusts for the care of animals. A pet trust may be created to provide for the care of an animal alive during the grantor's lifetime. The trust terminates upon the death of the animal. Property of a trust may be applied only to its intended use. A trust may be enforced by a person appointed in the terms of the trust instrument or by a person appointed by the court.
Summary: This statute represents Wisconsin's pet trust law. The former law was not a specific pet trust law, but the new law is. The new provisions allows for a trust to be created for the care of an animal alive during the settlor's lifetime.
Summary: The purpose of this chapter is to recognize and validate certain trusts that are established for the benefit of animals (nonhuman animal with vertebrae). The trust can be for one or more animals provided they are individually identified or labeled in the instrument so that they may be easily identified. Unless otherwise provided in the trust instrument or in this chapter, the trust will terminate when no animal that is designated as a beneficiary of the trust remains living.
Summary: This Vermont law enacted in 2009 allows the creation of a trust to provide care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal.
Summary: This Virginia pet trust law becomes effective July 1, 2006. The law provides that a trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal.
Summary: This Utah statute provides that a trust for the care of a designated domestic or pet animal is valid. The trust terminates when no living animal is covered by the trust. Trusts under this section shall be liberally construed to presume against the merely precatory or honorary nature of the disposition, and to carry out the general intent of the transferor.
