A new statute in California is providing peace of mind for pet owners who want to ensure their dogs, cats, horses, etc. are taken care of after the owner's death or incapacity.
Before 2009, pet trusts were not enforceable in California, meaning there were no guarantees that even if funds could be allocated for the care of a pet, the funds would be properly applied, because there was no assurance that California courts would enforce pet trusts.
Here are a few highlights of what the new California statute allows pet owners to do:
Provide a place for a pet to live, including maintaining a home or ranch for the pet's benefit
Appoint a care taker or other care mechanism to care for the pet, and an overseer to ensure that the care given is as directed in the trust
Give direction about the pet's care and routines, exercise, veterinary care, and whatever other directions could be of help to the pet
Provide a source of funds for the pet's care that can be managed and invested like any other trust
Protect the money set aside to care for and/or house the pet by having a trustee manage the trust property
Read a full article I wrote for California Lawyer Magazine below: http://www.callawyer.com/cle.cfm