Update on The Newly Proposed Connecticut Pet Trust Legislation
John O’Brien is an experienced estate-planning and probate attorney in Wethersfield, Connecticut.
He is an active advocate of the newly proposed legislation regarding the passage of language to provide for Pet Trusts and has been keeping us apprised of the pending bill in that state,
In a recent post on his blog, the Connecticut Estate Planning Report, he wrote that there are actually two different bills that have been offered for adoption.
He also questions the real motive for the passage of one of the bills.
He wrote:
In large measure, the two Bills are similar. There is one significant difference from the perspective of a client that wants to establish such a trust -- any trust must be approved by the Probate Court. Apparently the Legislature sees this as an opportunity to generate revenue for the Probate Court because the Probate Courts will charge a fee of between $50-$750 to review the trust. This change creates all kinds of logistical problems for the implementation of these type of trusts, albeit ones that can be overcome, but certainly ones that are better avoided...."
You should go to his blog to view his entire article.
We will look to Mr. O’Brien to keep us in the loop as this law progresses…or not.
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