Monday, January 10, 2011

Providing for Your Pets After You Die

According to the MSPCA, Governor Patrick has signed H1467: An Act Relative to Trusts for the Care of Animals,  This law, MGL c.203, s.3C will allow pet owners to create trusts to care for their pets. Some key provisions:
  • "Unless the trust instrument provides for an earlier termination, 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."
  • "A court may reduce the amount of property held by the trust if it that amount substantially exceeds the amount required for the intended use and the court finds that there will be no substantial adverse impact in the care, maintenance, health, or appearance of the animal or animals." 
More information on animals and the law can be found at our Mass. Law About Animals.