Wills and Trusts
Displaying 41 - 50 of 73
Title |
Summary |
|---|---|
| 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. |
| 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. |
| 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. |
| ND - Trust - Chapter 59-12. Creation, Validity, Modification, and Termination of Trust | North Dakota's pet trust law was enacted in 2007. 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. |
| NE - Trusts - Chapter 30. Decedents' Estates; Protection of Persons and Property. | This statute represents Nebraska's pet trust law. The law adopts the language of Section 408 of the Uniform Trust Act and states 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. |
| NH - Trusts - Chapter 564-B. Uniform Trust Code. | This statute represents New Hampshire'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. |
| NJ - Pet Trusts - Trusts for care of domesticated animals | 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. Note: this section replaces the original law (3B:11-38) enacted in 2001 and repealed in 2016. |
| NM - Pet Trusts - Chapter 46A. Uniform Trust Code. | Section 46A-4-408, was adopted in 2003, and did not repeal the previous pet trust law. However, in 2016, the original pet trust law (46A-4-407) was finally repealed. The new section follows the language of the Uniform Trust Code and simply states that a trust for the care of an animal alive during the settlor's lifetime is valid. The trust terminates upon the death of the last animal named and any excess trust property is distributed to the settlor, if living, or his or her successors in interest. |
| NV - Trusts - Chapter 163. Trusts. Creation and Validity of Trusts. 163.0075. Validity of trust providing for care of one or mor | This Nevada statute allows for a trust created for the care of one or more animals that are alive at the time of the settlor's death (note the statute does not state "domestic" or "pet" animal). Such a trust terminates upon the death of all animals covered by the terms of the trust. It further provides that a settlor's expression of intent must be liberally construed in favor of the creation of such a trust. |
| NY - Trusts - Chapter 17-B. Of the Consolidated Laws. | This New York statute provides that a trust for the care of a designated domestic or pet animal is valid. Such trust shall terminate when the living animal beneficiary or beneficiaries of such trust are no longer alive. Upon termination, the trustee shall transfer the unexpended trust property as directed in the trust instrument or, if there are no such directions in the trust instrument, the property shall pass to the estate of the grantor. A court may reduce the amount of the property transferred if it determines that amount substantially exceeds the amount required for the intended use. |