| "body"> | | | | and distribute the assets. A caregiver is also appointed |
| My Aunt Betty's closest companions have always | | | | to physically take possession and care for your pets. |
| been her cats. Ever since I was a boy, my family | | | | If you don't know a trustee or caregiver, check with |
| never traveled to the Midwest to visit just Betty. It was | | | | the local humane society or other animal organization in |
| always Betty and Roscoe or Betty and Fluffy. She's | | | | your area. Many of these organizations have |
| always loved those feline friends and, as age crept up | | | | programs set up to assist in this matter. |
| on her, she started to speculate what would become | | | | Pet Trusts do not come without some concerns. |
| of them upon her eventual demise. | | | | It is important to understand that while trusts can be |
| Apparently Betty thought this was a concern of mine | | | | set up for pets, leaving property to an animal via a will |
| as well because over the weekend I received a | | | | is still not recognized. |
| telephone call to say all was taken care of - a Pet | | | | If a pet is very young, you might also run across the |
| Trust has just been signed. | | | | "rule against perpetuities," which forbids a trust going on |
| Doris Duke, the tobacco heiress, was one of the first | | | | forever. This shouldn't be a problem with a 13 year old |
| to set up such a trust when she left $100,000 to | | | | dog, but what if you die with a 3 year old tortoise? |
| Rodeo, her Shar-Pei. Others followed, but courts often | | | | Recently, a tortoise died in India that was estimated to |
| frowned on their validity because the trust was not | | | | be 255 years old. Adwaitya (the tortoise's name) could |
| based on a human life. | | | | have wracked legal havoc with a trust. |
| This changed in 1993 when a number of states | | | | Aunt Betty is lucky enough to live in a state that allows |
| starting adopting model legislation drafted by the | | | | trusts but, even if she didn't, some alternative plans are |
| Uniform Probate Code, which allowed trusts to | | | | possible. Leaving her pet (and money to take care of |
| continue for a pet's lifetime. Arizona, California, | | | | it) to an individual willing to love Fluffy is one of them. |
| Colorado, Hawaii, Missouri, Montana, New Mexico, New | | | | As with any kind of estate planning, a competent |
| York, Nevada, North Carolina, Oregon, Tennessee, | | | | attorney should be used who has some experience in |
| Utah and Wisconsin all allow some form of pet trust. | | | | this area. |
| You can have the trust take effect whenever you're | | | | If it's important to you that Fido continues on the gravy |
| unable to care for your pets, usually upon death or | | | | train even after you've ridden your last train, then a Pet |
| disability. Like other trusts, you fund the instrument with | | | | Trust is something to look into. |
| enough assets to take care of your pets for their | | | | Now if I could only learn to meow and lick myself |
| expected lifetime. As a general rule, the amount should | | | | clean, maybe Betty would set up a trust for me. |
| not be "excessive." A trustee is appointed to oversee | | | | |