Thứ Tư, 3 tháng 11, 2010

I’m concerned about providing for my pet’s care after my death. Is it legal to provide for pets in a will or trust?

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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