Law lets Floridians create trust funds for pets

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Posted on Fri, Jan. 03, 2003 story:PUB_DESC

MIAMI - (AP) -- Florida pet owners can now set up trust funds for their furry friends in case something unexpected happens to them and they could no longer care for the animals.

On Wednesday, Florida joined 16 other states that permit owners to set aside money for their pets' care, specify a trustee to oversee the money, designate who is to take care of the pets and have it legally binding and enforceable by a judge.

''There is much planning you can do for your pet or your animals if something happens to you,'' said Boca Raton attorney Marie-Anne Oatley, who practices will, estate and trust law. ``The important thing is you can dictate exactly what you want to happen to your pet rather than leaving it to an institution or a friend.''

The new law will prevent an eccentric millionaire from leaving a fortune to a favored dog or cat, Oatley said, because a judge will have discretion to decide whether the pet trust is given more money than is needed to care for the pet during its lifetime.

The new law could be particularly useful in Florida because of its large population of retirees, especially those who have taken in pets for companionship.

-- Anonymous, January 03, 2003


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