pet trust
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Planning Ahead With a Pet Trust

Protect Your Pets in the Future

horse trustA pet trust establishes a trust fund for taking care of your pets in the event of your death or disability. It does not however, establish ownership of the pets which terms should be incorporated in the owner's will. While the trust will establish the financial security of the pets, it does not establish who will physically take care of the pet and where it will done.

State Law

Laws establishing the ability to create a pet trust vary from state to state. For example, Florida law allows you to set up a trust for your horse's care. Under Florida law it is possible to create a trust, known as a Pet Trust, for the care of your horse. If you have a horse or horses, would you like to provide instructions for its care if you are no longer able to do so due to your death or disability?

Creating a Pet Trust

By creating a Pet Trust under Florida law, you can provide for the care of your horse. (1) 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. (2) 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

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. Here is an easy to use form that can be used to set up a pet trust. Sample trust form.

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