Florida law allows a Florida decedent to leave assets for the benefit of a pet, in a pet trust.
Florida statute Section 736.0408 allows for the creation of a trust for the benefit of a pet. The statute provides:
736.0408 Trust for care of an animal.—
Some planning ideas for making the best use of a Pet Trust:
- Make sure the identity of the pet is clear in the trust instrument.
- Identify a suitable trustee to administer the Pet Trust.
- Fund the Pet Trust with an appropriate amount of assets – enough to provide for the pet, but not so much that other beneficiaries of the estate plan have grounds to petition the court to make a change.
- Arrange for suitable care for the pet in advance, in terms of who is going to take care of the pet. The trustee of the Pet Trust does not have to be the same person who will take care of the animal.