Governor Signs Bill Eliminating 21-Year Duration of Pet Trusts

The Governor this week signed into law legislation which would eliminate the limit on how long a pet could be covered under a trust. This legislation was proposed by the City Bar's Committee on Legal Issues Pertaining to Animals as a way to protect pets that are provided for in the wills and trusts of their owners for their continuing care but live longer than the current 21-year maximum period that trusts cover. This legislation removes any coverage limit and gives pet owners the option of having a trust last for the duration of their pets life.

May 6, 2010