Estate Planning For Your Pet

971201In 2002 Florida enacted a provision that trusts could be created for the care of a pet. It has since been amended with the adoption of the Unified Trust Code, but remains in force. Prior to the enactment of this statute, pets could only be left to someone like any other property, but no assets could be set aside for their care. The best you could do is leave the pet to someone together with some money to take care of it, but there was no way to ensure this is what actually happened.

Even with this statute, a trust is needed. A trust allows for a continuing gift for the life of the pet to ensure there are funds available to take care of the pet.

Posted in Estate Planning.