Answer. Yes, New York State recognizes the validity of a trust for pets. A trust of this nature can be established where a chosen trustee oversees the expenditure of money and provides for the care of a pet. A pet trust allows for your specific wishes with regard to your pet’s care to be met.
Some of the key issues to consider in establishing a pet trust are:
- Choice of a trustee;
- Clearly defining the obligations of the trustee;
- Protection of trust assets; and
- Providing for a charitable contribution of the remaining funds upon the pet’s death.
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