What is the Purpose Clause in a Pet Trust?
After the recent post on a Trust Declaration, I received a call from another attorney who was doing estate planning for an animal owner/client. He asked if a Trust Declaration was the same as a Trust Purpose Clause.
There is a diffenece...
While it is generally not necessary that a specific statement of purpose be included in the trust for your pet, many individual pet owners chose to do so.
One example of a purpose statement is as follows:
…While my pets are alive, the primary purpose of the Pet Trust is to provide for the health, care, and welfare of my pets. Notwithstanding, if at any time, any of my pets suffer from a medical or physical condition or illness and the pet trustee and the pet caregiver determine, based on a written opinion of a veterinary professional who has examined said pet, that it would be more humane to euthanize said pet, then the Pet Panel, Pet Trustee and Pet Guardian are authorized to do so at the expense of the Pet Trust.
The trust purpose statement establishes the overall boundaries of the desires of the pet owner with general instructions to the pet trustee and caregiver.
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