We are pleased to announce that Kevin A. Pollock has recently been added to the speaking panel for the 2019 Animal Law Symposium. Kevin will be speaking about estate planning for pet owners, including the creation of pet trusts. He will also be discussing relevant income tax laws and NJ Inheritance tax laws that pertain […]
According to multiple news sources, when the creative director and fashion designer Karl Lagerfeld died on February 19, 2019, he left his famous cat, Choupette, a significant amount of money in trust. Pet trusts are now quite common, and specifically authorized by statute in most jurisdictions. Many people consider pets as a part of the family, and want them […]
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 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. The new law states: 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 purpose in […]