Pet trust

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A pet trust is a legal arrangement to provide care for a pet after its owner dies.[1][2] A pet trust falls under trust law and is one option for pet owners who want to provide for their pets after they pass away. Alternatives include honorary bequests made through a will and contractual arrangements with the caregiver.[3]

Pet trusts stipulate that in the event of a grantor’s disability or death a trustee will hold property (cash, for example) “in trust” for the benefit of the grantor’s pets. The “grantor” (also called a settlor or trustor in some states) is the person who creates the trust, which may take effect during a person’s lifetime or at death. Payments to a designated caregiver(s) will is made on a regular basis.

History[edit]

The development of pet trusts is part of the animal rights movement.[4]

United States[edit]

As of 2015, all U.S. states except Minnesota have passed laws that allow some form of pet trust.[5] Some states allow a pet trust to continue for the life of the pet, without regard to a maximum duration of 21 years. This is particularly advantageous for companion animals who have longer life expectancies than cats and dogs, such as horses and parrots.

See also[edit]

References[edit]

  1. ^ "Pet Trust Primer". ASPCA. Retrieved 30 June 2017. 
  2. ^ Manning, Sue (June 22, 2011). "Pet estate planning: Not just for Leona Helmsley anymore". Associated Press on MSNBC.com. Retrieved 8 August 2011. 
  3. ^ Larson, Aaron (20 September 2016). "What is a Pet Care Trust". ExpertLaw. Retrieved 30 June 2017. 
  4. ^ Favre, David (19 October 2004). "Integrating Animal Interests into Our Legal System" (PDF). Animal Law Review. 10: 87–97. Retrieved 30 June 2017. 
  5. ^ "Pet Trust Laws". ASPCA. Retrieved 30 June 2017. 

External links[edit]