It used to be that
the only way to provide for the perpetual care of a pet upon the
death or incapacity of the owner was for the pet owner to find a
person to agree to become the pet’s caregiver and hope that the
future caregiver would make good on the promise. Even if the pet owner left money to the future caregiver
under his or her Last Will and Testament or gave money to the
caregiver outright, there was no way to guarantee that the caregiver
would use the money to care for the pet.
On
November 6, 2006,
the Pennsylvania Uniform Trust Act went
into effect in
Pennsylvania, which, among other things, allowed for
the creation of a trust to provide for the care of a pet of a
decedent or incapacitated person.
Prior to the enactment of the Pennsylvania Uniform Trust Act,
such a trust would not be enforceable under Pennsylvania
law.
Pursuant to Section 7732 of the Pennsylvania Uniform Trust
Act, a trust created for the care of animals will be considered a
valid trust if it meets certain requirements.
For instance, the trust may be created to provide for the
care of an animal that is alive during the lifetime of the
individual who established the trust (known as the Settlor).
Further, the terms of the trust must provide that the trust
will terminate upon the death of the animal for which it was
created.
This type of “Pet
Trust” has many advantages over giving money outright or under a
Will to a future caregiver. The
Settlor may fund the trust during his/her lifetime, upon death, or
may even authorize another individual to fund the trust if the
Settlor becomes incapacitated. The
Settlor can stipulate that the funds in the trust are to be used for
the care of the pet and can dictate the manner in which the pet is
to be nurtured, for example, naming the preferred veterinarian and
providing care instructions. The
Settlor will name a person in the trust instrument, known as the
Trustee, who will be responsible for the management of the trust
funds and to ensure that distribution is made to the caregiver as
outlined in the trust. The
trust may even provide for compensation to be paid to the caregiver
as an added incentive for the caregiver to tend to the pet.
Further, the Settlor may name a third party responsible to
ensure that the terms of the trust are being carried out and to
enforce, when necessary, the terms of the trust on behalf of the
animal.
The Pet Trust is an
excellent tool to ensure that the pet is not overlooked in the event
of an unexpected illness, accident or death of the pet owner.
With proper planning, the pet owner can ensure that the
health and well-being of the pet are provided for even when the pet
owner has passed away or becomes incapacitated.
Attorney Colbert can be contacted
at webmail@paelderlaw.com
or at 1-800-401-4552
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