What Is A Declaration Of Intent In A Pet trust?
What is a declaration of intent in a pet trust?
Most pet trusts have some type of guideline, directional or owner intention clause included.
It may or may not be effective as to the trustee, but is considered a declaration of the owner’s desire for their pets.
The following is an example of such a clause:
Without in any way limiting the discretion of my Trustee over distributions of income and principal from this trust, or the placement of my pets subject to this trust, I declare to my Trustee that the primary purpose of this trust is to provide a warm, caring and loving environment for my pets for the remainder of their lives, including good nutrition, and veterinarian care and attention. Preservation of principal is not as important as these objectives.
Discuss this important clause with your attorney when your prepare your pet trust.
It can be a valuable guide for your trustee.
Does Your Pet Need Life Insurance?
I spoke with a client recently regarding estate planning for her pets and she asked about life insurance for her cats.
We have found that some companies will provide life insurance coverage for your pet, including VPI Pet Insurance, PetPlan Pet Insurance, PetCare Insurance, National Insurance Company and the Oriental Insurance Company Limited.
Benefits can range from $200 to $750 for non-show pets, while higher limits of $1,000 to $10,000 are available.
I am not sure if the plans are a good value, but the insurance may be worthwhile to some pet owners.
If you have any interest in these policies for your pets, be smart, shop around, compare policies and companies, and then decide if it is right for you.
Baby Boomers State That Pet Care Is A Basic Need
How important are pets to baby boomers?
Well, according to a recent survey by MainStay Investments, fifty-one percent of all baby boomers said that Pet Care was a basic need for them.
Pets followed the need for Internet access and birthday shopping as necessities cited by the interviewed adults; aged 45 to 65.
Many boomers stated that they were willing to continue working and push back their retirement dates to maintain their current lifestyles.
See more on the survey at www.seniorrealestate.com.
In addition, keep on working and providing for your pets.
Pet Health Insurance Is Part of Estate Planning For Your Pets
One question that I constantly receive concerns pet health insurance.
I have stated on many occasions that I have no opinion either way, although I personally do not have any pet heath insurance for our dog, Anna.
There are numerous plans for you to review and compare as to coverage and rates.
This site is a good place to begin your inquiries.
Let me know what you decide.
Hire A Professional Sitter to Protect Your Pet
More and more pet owners are utilizing the services of a professional pet sitter for their pets, rather just asking a neighbor to “check in” on their furry families.
If you choose this route, be sure to provide at a minimum, the following information.
Your Name;
Your email address;
Your cell phone numbers;
Your travel plans and dates;
The name of the hotel or location you are visiting along with all local email, cell phone and facsimile information;
The name and address of your veterinarian;
The business and cell phone of your veterinarian;
Driving instructions to you veterinarian;
The name and number of a local personal contact for emergency purposes, and
An updated power of attorney for that local contact.
Plan ahead and the emergencies will be minimized.
Is A Guide Dog Property Or A Pet?
I recently was asked if there is a difference as to whether or not a guide dog in training, was afforded the same statutory rights, protections and privileges as a guide dog.
Interestingly enough, nearly two years ago, I wrote about this same issue.
Every state has a least one statue regarding the use and protection of guide dogs or service animals as they are often called.
For example, California law is clear in that “Housing providers have an affirmative obligation to engage in an interactive process with a tenant or prospective tenant who requests that his/her service animal be permitted to reside with him/her in the subject housing accommodation and provide that reasonable accommodation, absent a specific legal justification for not granting the request.”
This led me to do a little research on Florida Statutes.
We have discussed many time of the current dichotomy in the courts between the treatment of pets as simply personal property and as a member of the family with emotional value, as well.
Florida Statute 413.081. Interference with or injury to a service animal; penalties; restitution, provides an interesting insight into that argument in that:
"(2) A person who, with reckless disregard, injures or kills, or permits a dog that he or she owns or is in the immediate control of to injure or kill, a service animal commits a misdemeanor of the first degree, punishable as provided in s. 775.082 or s. 775.083.
(3) A person who intentionally injures or kills, or permits a dog that he or she owns or is in the immediate control of to injure or kill, a service animal commits a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.
(4)(a) A person who is convicted of a violation of this section, in addition to any other penalty, must make full restitution for all damages that arise out of or are related to the offense, including incidental and consequential damages incurred by the service animal's user.
(b) Restitution includes the value of the service animal; replacement and training or retraining expenses for the service animal and the user; veterinary and other medical and boarding expenses for the service animal; medical expenses for the user; and lost wages or income incurred by the user during any period that the user is without the services of the service animal."
It is interesting that this statute provides for additional compensation to the animal owner, in addition to the actual value (personal property) of the animal.
Disaster Kit For Your Pets
Today we continue with our hints from the Red Cross and other agencies on adequate preparation for your pets and pending disasters.
Whether you are away from home for a day or a week, you'll need essential supplies. Keep items in an accessible place and store them in sturdy containers that can be carried easily (duffel bags, covered trash containers, etc.). Your pet disaster supplies kit should include:
• Medications and medical records (stored in a waterproof container) and a first aid kit.
• Sturdy leashes, harnesses, and/or carriers to transport pets safely and ensure that your animals can't escape.
• Current photos of your pets in case they get lost.
• Food, potable water, bowls, cat litter/pan, and can opener.
• Information on feeding schedules, medical conditions, behavior problems, and the name and number of your veterinarian in case you have to foster or board your pets.
• Pet beds and toys, if easily transportable.
Disaster Planning For Your Pets
Red Cross disaster shelters cannot accept pets because of states' health and safety regulations and other considerations. Service animals who assist people with disabilities are the only animals allowed in Red Cross shelters. It may be difficult, if not impossible, to find shelter for your animals in the midst of a disaster, so plan ahead. Do not wait until disaster strikes to do your research.
• Contact hotels and motels outside your immediate area to check policies on accepting pets and restrictions on number, size, and species. Ask if "no pet" policies could be waived in an emergency. Keep a list of "pet friendly" places, including phone numbers, with other disaster information and supplies. If you have notice of an impending disaster, call ahead for reservations.
• Ask friends, relatives, or others outside the affected area whether they could shelter your animals. If you have more than one pet, they may be more comfortable if kept together, but be prepared to house them separately.
• Prepare a list of boarding facilities and veterinarians who could shelter animals in an emergency; include 24-hour phone numbers.
• Ask local animal shelters if they provide emergency shelter or foster care for pets in a disaster. Animal shelters may be overburdened caring for the animals they already have as well as those displaced by a disaster, so this should be your last resort.
Next, we will look at a pet disaster supply kit.
Massachusetts May Be Next To Adopt Statutory Pet Trust
Massachusetts is in line to become the next state to enact a statutory pet trusts.
Presented in 2009, House Bill No. 1467 is entitled An Act Relative to trusts for the care of animals:
SECTION 1. Notwithstanding any general or special law or regulation to the contrary, Chapter 203 of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by inserting after section 3B the following section: -Section 3C.A trust for the care of one or more animals alive during the settlor's lifetime is valid. Unless the trust instrument provides for an earlier termination, 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.
(a) 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, other than reasonable trustee fees and expenses of administration, or to any use other than for the benefit of a covered animal or animals.
(b) A court may reduce the amount of property held by the trust if it that amount substantially exceeds the amount required for the intended use and the court finds that there will be no
Substantial adverse impact in the care, maintenance, health, or appearance of the animal or animals. The amount of the reduction shall pass as unexpended trust property in accordance with paragraph (c) of this Section.
(c) Upon reduction or termination, the trustee shall transfer the unexpended trust property in the following order:
(1) As directed in the trust instrument;
(2) To the settler, if living;
(3) If the trust was created in a no residuary clause in the transferor's will or in a codicil to the transferor's will, under the residuary clause in the transferor's will; or(4) To the settlor's heirs in accordance with G.L. c. 190.
(d) If a trustee is not designated by the trust instrument or no designated trustee is willing or able to serve, the court shall name a trustee. The court may order the transfer of the property to another trustee if the transfer is necessary to ensure that the intended use is carried out. The court may also make other orders and determinations as are advisable to carry out the intent of the settlor and the intended use of the trust.
(e) The intended use of the principal or income may be enforced by an individual designated for that purpose in the trust instrument, by the person having custody of an animal for which care is provided by the trust instrument, by a remainder beneficiary, or by an individual appointed by a court upon application to it by an individual or charitable organization.
(f) The settlor or other custodian of an animal for whose benefit the trust was created may transfer custody of the animal to the trustee at or subsequent to the creation of the trust.
(g) Any trust created under this Section shall be exempt from G.L. c. 184A and the common law rule against perpetuities.
If it becomes law, it will be the 45th state, along with the District of Columbia to have pet trust legislation.
Georgia Enacts Pet Trust Legislation
Welcome Georgia!
Georgia became the forty-fourth state to officially recognize pet trust legislation.
Effective July 1, 2010, a new Revised Georgia Trust Code contains the following clause:
53-12-28.
(a) A trust may be created to provide for the care of an animal that is alive during the settlor's lifetime. The trust shall terminate upon the death of such 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.
(b) A trust authorized by this Code section may be enforced by a person appointed in the trust instrument or, if no person is so appointed, by a person appointed by the court. A person having an interest in the welfare of the animal may request the court to appoint a person to enforce the trust or to remove a person appointed.
(c) Upon termination of a trust authorized by this Code section, the trustee shall transfer any unexpended trust property in the following order:
(1) As directed in the trust instrument;
(2) If the trust was created in a nonresiduary clause in the settlor's will or in a codicil to the settlor's will, under the residuary clause in the settlor's will; and
(3) If no taker is produced by the application of paragraph (1) or (2) of this subsection, to the settlor, if living, and if not, to the settlor's heirs, as determined under Code Section 53-2-1.
