Will Connecticut Finally Adopt a Pet Trust Statute?
The Uniform Trust Code and the Uniform Probate Court have long provided for the establishment of Trusts for pet beneficiaries. Approximately 40 states, if not more, have Statutes on the books providing one the right to establish a Trust for their pets. And now, pending before the Connecticut Legislature, is a Proposed Bill which would establish that same right in Connecticut.
Great news for pet owners, if passed. Pets have become more and more part of the fabric of our families. We have long provided the opportunity for people to leave money and belongings to their human loved ones, but absent specific legislative authorization, one cannot leave money directly to a pet as beneficiary. Presently, one could leave money in a Will or Trust to a person and specifically request that the money be used by that person for the care of a pet. Yet, there is no assurance that the person would do that. A Pet Trust Statute will provide the pet owner with a greater comfort level that the money will be used for the pet.
Such a Trust can be established by Will -- a Testamentary Trust -- and go into effect upon the pet owner's death or the Trust can be established while the pet owner is still alive with the money either put into Trust during life or funded upon death. In either case, the Trust would establish a specific person or persons to serve as a trustee who would have a legal duty to use the money for the care of the pet. Whether the trustee is fulfilling his/her duty would be reviewed by the Courts. There are all other provisions that can be set forth in the Trust Agreement which can ensure that pet owners' wishes are followed. Needless to say, it will be a nice addition to Connecticut's laws if the Proposed Bill passes, so all you pet lovers contact your Legislators. Let's see if it happens.
