While this may not sound like big news, it is actually very exciting that New Jersey has finally enacted the Uniform Trust Code (UTC) into law. The new law will go into effect on July 17, 2016. When it does, New Jersey will join Pennsylvania, Florida and a majority of other states in adopting most […]
Following Leona Helmsley’s bequest of $12,000,000 to her dog, the USAToday published a nice article about the importance of setting up a pet trust for your beloved animals. I note that the article contains a nice chart detailing which states allow for the creation of a pet trusts.
New Jersey passed legislation a short while ago permitting the creation of a Pet Trust under: N.J. Stat. Ann. § 3B:11-38. 1. The new law states: a. A trust for the care of a domesticated animal is valid. The intended use of the principal or income may be enforced by a person designated for that […]