Page 194 - ShowSight - September 2019

WILLS,
TRUSTS
AND DOGS
PROVIDING FOR YOUR DOGS AFTER YOUR DEATH
BY LISA M. CURRY, ESQ.
For centuries, pet owners have struggled with the ques- tion, “What will become of my pets after I die?” For roy- alty in ancient Egypt, the answer was easy: have them killed, mummified and entombed with you, so you can
take them with you to the afterlife. Even today, some people include a will provision that when they die, their pets will be euthanized. (Courts have been known to veto such provisions.) However, for those of us who prefer our animals to keep living, we can take steps to put a more reasonable plan in place.
CAN I LEAVE MY ESTATE TO MY DOGS?
Unfortunately, no. You cannot will your estate (your money and/or worldly goods) to your dogs. Dogs are property in the eyes of the law, in every state in the US and cannot own or inherit money or property: courts will reject such a provision in a will.
CAN I SET UP A TRUST FOR MY DOGS?
If your state statutes permit it, you can. A trust is a legal arrange- ment which is created—or at least, planned for—by you before you die, as part of your estate planning. A growing minority of states permit “pet trusts” where the pet is the trust’s direct beneficiary. The alternative is a “common law trust” in which the caretaker is
the beneficiary and you ask them to follow your wishes in caring for the dogs. Keep in mind that a court might make “adjustments” to your trust, be it a pet trust or common law: Leona Helmsley left $12 million to her Maltese “Trouble,” but courts chopped that amount down significantly when the trust was challenged. Lesser amounts, though, are often considered more reasonable and thus undisturbed.
With both pet trusts and common law trusts, the basic arrange- ment is the same. You select a trustee, who has a fiduciary obliga- tion to act as you instruct; you set forth in writing how funds are to be used. The trustee must spend the funds according to your wishes, which usually means to benefit some beneficiary (named by you)—either your pet or the caretaker.
The common law trust is harder to police and enforce. Work with an attorney who is knowledgeable in the areas of trusts and dog care to make sure your instructions will be followed as far as possible, and that your caretaker won’t simply abscond with the money and drop your dogs off at the shelter. A common law trust is still preferable to simply leaving a letter outlining your wishes, which may be completely disregarded after your death, with no recourse at all.
“A COMMON LAW TRUST IS STILL PREFERABLE TO SIMPLY LEAVING A LETTER OUTLINING YOUR WISHES,
which may be completely disregarded after your death, with no recourse at all.”
192 • ShowSight Magazine, SepteMber 2019