Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Tuesday, May 2, 2017

Pet Trusts Across the Globe

Pet trusts2Pet trusts are now mainstream in the United States, but the concept is not commonplace in the United Kingdom. UK citizens are putting provisions for their pets care in their will, but they often tend to not be legally binding. Discretionary trust, on the other hand, allow the creator to set aside an amount of money for the trustee to care for the pet, and the trustee would ultimately be the beneficiary of the trust after the pet’s passing. The difference between pet trusts and discretionary trusts is that pet trusts have no human beneficiary. Trustees for pet trust are also held more accountable for how they spend the money left to the pet. Ultimately, whatever you choose, it is important to make specific plans for your pets after your passing.

See Marie Carter, Should We Set Up Legal Trusts for Our Pets?, Huff Post UK, July 10, 2016.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

https://lawprofessors.typepad.com/trusts_estates_prof/2017/05/pet-trusts-across-the-globe.html

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Comments

Thank you for sharing. This post is very much needed and for me, I agree to give them trust funds. Pets are like our kids, we need to think about their future and welfare. We tried this already to my childhood pet, after the pet cremation in Houston, TX we talked to our family attorney about the claims and my mother who's set up this trust fund to my beloved childhood pet Anya. Please refer to this link: https://thepetlosscenter.com/our-locations/houston/

Posted by: Gine Oquendo | Dec 3, 2018 5:57:34 PM

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