Pet Trusts in Kansas
I live in the Jayhawk state of Kansas, the home of the 2008 National NCAA Basketball Champions. Any information on a pet trust for my cockatoo, Benke?
Laurie, Agra, Kansas
Laurie, the State of Kansas has a Pet Trust statute that was enacted in 2003. The trust language is very short:
"(a) A trust may be created to provide for the care of an animal alive during the settlor's lifetime. 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.
(b) A trust authorized by this section may be enforced by a person appointed in the terms of the trust 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) Property of a trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use may be distributed to the settlor, if then living, otherwise to the settlor's successors in interest."
It is interesting, in that the statute states, that a trust can be created for an animal and does not specifically refer to a “pet” or “companion animal.”
Anyone for an elephant trust?
Contact an attorney and your financial advisers and begin your estate planning for Benke
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Not a comment on this particular post - but I was generally interested in the advanced way in which the US is moving in regard to trusts for pets. here in the UK it still creates headlines in the press if an owner is thoughtful enough to leave a pet money in a will.