Are Pet Trusts Valid?

Can I use a trust to leave money and property to my pets? 

Let’s face it, it’s true: a dog is a man’s best friend. Unlike humans, dogs will not ignore your calls or ask you for money. Some dogs are even completely satisfying substitutes for babies. So naturally, people often want to provide for their pets when they die. A pet trust is common used for this purpose.

Are pet trusts valid? In some cases, the courts have ruled that pet trusts to be a waste of resources. However, even if a court reaches this decision, it will often still honor the decedent’s wishes, but will simply reduce the trust amount. For example, in 2007, hotel heiress Leona Helmsley left her dog $12 million and the judge reduced it to $2 million.

On the other hand, Tennessee Courts have held that all pet trusts are valid so long as the decedent was of sound mind and disposing memory when he made the trust. For example, when Leon Sheppard Sr., a retired businessman, died in 2012, he left $250,000 and a 4,270-square-foot home to his two cats, Frisco and Jake. The court allowed the pet trust. But once the cats die, any remainder of the money will go to Sheppard’s relatives.

Although it may be odd to leave such large sums of money to pets instead of family, a pet trust ensures that the decedent’s pets will not be abandoned. And then after the pets pass, the remainder of the trust will go to family members.