What would happen to your beloved pets if you died or were not able to care for them?

Marie Hillman • May 10, 2017

Have you ever considered what would happen to your beloved pets if you died or were not able to care for them? Many pet owners consider […] The post What would happen to your beloved pets if you died or were not able to care for them? appeared first on Hillman Law Firm.

Have you ever considered what would happen to your beloved pets if you died or were not able to care for them? Many pet owners consider their pets to be a part of their family and want to make sure their pets are left in the right hands with appropriate resources. In 2015, a new trust statue was passed that allows Louisiana residents to establish trusts with pets as the beneficiary. You can now leave money or other assets in trust to be used for the care of your pet and can designate who the caregiver of each pet should be.

Here are some of the basics of La. R.S. 9:2263:

  • A trust may be created to provide for the care of one or more animals that are in being and ascertainable on the date of the creation of the trust.
  • The trust instrument may designate a caregiver for each animal. An animal’s caregiver will have the custody of the animal and be responsible for its care. If no caregiver is designated or if the designated or appointed caregiver is unable or unwilling to serve, the trustee shall appoint or act as the caregiver.
  • The trust instrument may designate a person to enforce the provisions of the trust.
  • Trust property may be used only for the care of each animal and for reasonable compensation and expenses of the trustee and the caregiver.
  • If the proper court determines that the value of the trust substantially exceeds the amount required to care for each animal and for reasonable compensation and expenses of the trustee and the caregiver, the court may terminate the trust as to the excess portion.
  • The trust shall terminate upon the death of the last surviving animal provided for in the trust instrument.
  • The trust instrument may designate a person to receive the property upon partial or complete termination of the trust.

This law provides a simple and alternative way for an individual to provide for the care of an animal. A pet trust can be funded with cash, other assets or even life insurance. I know many of you will be relieved and happy that Louisiana now provides this. Contact me if you have any questions or are ready to create your own will.   marie@hillmanplc.com

Disclaimer:  The information contained in this article is for general information purposes only. Nothing in this article is or should be considered legal advice. The information in this article is not intended to create an attorney-client relationship, and viewing or receipt of information from this article does not create an attorney-client relationship.

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