Wills and Trusts
Displaying 31 - 40 of 73
Title |
Summary |
|---|---|
| NC - Trusts - § 36C-4-408. Trust for care of animal | This North Carolina provides that a trust for the care of one or more designated domestic or pet animals alive at the time of creation of the trust is valid. Further, no portion of the principal or income may be converted to the use of the trustee or to any use other than for the benefit of the designated animal or animals. The trust terminates upon the death of the animal named or the last surviving animal named in the trust. |
| MT - Trusts - Chapter 2. Upc--Intestacy, Wills, and Donative Transfers. | This Montana statute states that a trust for the care of a designated domestic or pet animal is valid (but for no longer than 21 years, even if the trust provides for a longer term). The trust terminates when no living animal is covered by the trust. Extrinsic evidence is admissible in determining the transferor's intent. Except as expressly provided otherwise in the trust instrument, no portion of the principal or income may be converted to the use of the trustee or to any use other than for the trust's purposes or for the benefit of a covered animal and a court may reduce the amount of the property transferred if it determines that that amount substantially exceeds the amount required for the intended use. |
| MS - Trust - § 91-8-408. Trust for care of animal | This Mississippi statute allows a trust to 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 (1) animal alive during the settlor's lifetime, upon the death of the last surviving animal. |
| MO - Trust - Creation of trust, care of living animals | This Missouri statute represents the state'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 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. |
| MN - Trust - 501C.0408. Trust for care of animal | This Minnesota law enacted in 2016 allows for the creation of a pet trust. 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. Interestingly, the trust may not be enforced for more than 90 years. |
| MI - Pet Trusts - Chapter 700. Estates and Protected Individuals Code. Estates and Protected Individuals Code. | This Michigan statute provides that a trust for the care of a designated domestic or pet animal is valid (these trusts follow the terms for non-charitable trusts and thus, can be of a duration of up to 21 years). The trust terminates when no living animal is covered by the trust. Extrinsic evidence is admissible to prove the transferor's intent and the court may reduce the amount of the property transferred if it determines that that amount substantially exceeds the amount required for the intended use. |
| ME - Pet Trusts - Chapter 4. Creation, Validity, Modification and Termination of Trust. | This statute represents Maine's pet trust law. The 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. The comment following the text of the statute clarifies what types of animal-related activities qualify as non-charitable versus charitable trusts. |
| MD - Pet Trust - §Title 14. Trusts. | Maryland enacted its original "pet trust" law in 2009. The law was then repealed and reenacted in 2015 under a different section. Under the law, a trust may be created to provide for the care of an animal alive during the lifetime of the settlor. The trust terminates when the last animal subject to the trust dies. The property of the trust may only be used for the intended purpose of the trust (e.g., taking care of the animal). |
| MA - Pet Trust - Chapter 203. Trusts. | In 2011, Massachusetts enacted this law, which allows the creation of a trust for the continuing care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the last animal named in the trust. A court may reduce the amount of property held by the trust if it determines that the 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 covered animal. The statute was renumbered in 2012. |
| Leslie Ann Mandel Will (pet trust) |