Did you know that there is a section of the Florida Statutes that regards leaving a trust for your pets? Don’t you want to make sure that your pet would be well taken care of if something were to happen to you? Pet trusts are becoming more and more popular. West Palm Beach estate planning lawyers now frequently encounter clients wishing to insure that their beloved fur baby is included in their Florida estate plan. A November 23, 2017 article in the Mesquite Local News discusses pet trusts. Although this article discusses pet trusts in Florida, Florida pet trusts work similarly.
Florida Pet Trusts
Pet Trusts help guarantee that your pets would continue to live a great life if you were to die before them.Sadly, when people die without planning for their pet, there is a good chance that their beloved dog, cat, or even pig will end up at a local shelter. However, West Palm Beach trust and estates lawyers know that you do not have to let this happen. Ask your West Palm Beach estate planning lawyer to help you. Your Florida probate lawyer will probably refer to Section 736.0408 of the Florida Statutes when discussing a pet trust with you.
Section 736.0408, “Trust for the Care of an Animal”, provides:
- A trust may be created to provide for the care of an animal alive during the settlor’s lifetime. The trust terminates on 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, on the death of the last surviving animal.
- A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is 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.
- Property of a trust authorized by this section may be applied only to the intended use of the property, 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 must be distributed to the settlor, if then living, otherwise as part of the settlor’s estate.
If you’d like to read more about how pet trusts work, click here to read the entire article.