Senior Advocate: Trust law protects animals too

His real name is Jack but we call him Stumpy because his legs are 3 inches long.

He’s chubby and he waddles when he walks. His short stature and full girth don’t impact his self-confidence, however, and he always leads the way, whether we are walking down the hallway at home or hiking the hills at Garland Park.

Stumpy-Jack is our Yorkshire terrier-poodle mix, and he is much loved by my family. Our love and sense of responsibility to Jack led us to make special provisions for him in our trust in the event we predecease him.

After the estate of Leona Helmsley made a public splash with her trust of $12million (since reduced) for her Maltese “Trouble,” many people got busy including provisions in their estate planning for their pets.

The provisions were to be carried out by executors or trustees but the law previously lacked “teeth” (sorry — had to say it) to be fully enforceable. It also was unclear who had standing to enforce the provisions of a pet trust.

On July 22, 2008, Gov. Arnold Schwarzenegger signed a law that replaces California’s permissive pet trust statute with a modern statute with enforceable provisions.

Here are some of the highlights of this new statute:

· A trust for the care of an animal is deemed to be for a “lawful noncharitable purpose.”

· “Animal” is broadly defined to include pets of any type, as well as domestic animals.

· Trust funds may be used only for the benefit of the animal unless

the trust instrument provides otherwise.

· The settlor may name — or a court may appoint — a trustee.

· The activities of the trust must provide an accounting of activities to other beneficiaries and to any nonprofit corporation that cares for animals and has submitted a request.

Organizations, such as the SPCA, Animal Friends Rescue Project and other agencies dedicated to the protection of animals may act as a trustee for pet trusts and they may bring action against trustees who are not fulfilling their fiduciary responsibility with regard to established pet trusts.

So, if Stumpy-Jack becomes an orphan, Animal Friends Rescue Project is instructed in our trust to find him a good home and provide his new parents with funds to care for him in the manner to which he’s grown accustomed.

We hope they will continue to take Stumpy-Jack on frequent walks in the park — where, of course, he will always lead the way.

Liza Horvath is a trust officer with a local bank and has more than 25 years of experience in the estate planning and trust fields. She can be reached at 915-0272 or liza@montereytrust.com.

Senior Advocate: Trust law protects animals too

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • NewsVine
  • Reddit
  • StumbleUpon
  • Google Bookmarks
  • Yahoo! Buzz
  • Twitter
  • Technorati
  • Live
  • LinkedIn
  • MySpace

Leave a Reply

Security Code: