The ASPCA has a good “plain English” pet planning/pet trust primer on its website:
The ASPCA states in relevant part “Since there is one state in which a pet trust is not valid, and other states where enforcement is discretionary, it is advisable to set up a trust with the help of an attorney who specializes in estate planning.”
According to the ASPCA, two of the benefits of setting up a pet trust are (1) that you can determine the final disposition of your pet, e.g. with a burial or cremation; and (2) you may designate a remainder beneficiary (such as a not-for-profit, no-kill animal shelter) in the event the funds in the pet trust are not exhausted.
For more information about trusts & estates matters, please contact us at (914) 338-8050.
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The Law Offices of Keith R. Betensky, Esq.
The Empire Building
26 Village Green, Suite 4
P.O. Box 22
Bedford, New York 10506-0022