Virginia State Legislature Authorizes Pet Trust

In July 2006, Virginia joined 37 other states in recognizing a trust for the benefit of pets.  Previously, common law provisions for the benefit of pets in wills were not upheld by the courts.  Sadly, this often resulted in heirs giving the pet to a rescue organization or euthanizing the pet and keeping the money designated for the pet. 

Virginia’s pet trust (Virginia Code § 55-544.08) is extremely flexible. It allows the writer of the will (“settlor”) to specify activities and treatment of their pets as well as making plans for when the pet passes away.  The law allows the settlor to choose the caretaker for the pet as well as choose a trustee to ensure the money is spent on the pet.  The law requires that the pet be alive during the settlor’s lifetime.

A pet trust can take effect during the settlor’s life (“inter vivos”) or it can take effect after the settlor’s death (“testamentary”) as a provision in the will.  The advantage of the inter vivos trust is the added protection that the pet is cared for in the event of the incapacity of the owner and also during the probate process before the will takes effect.  For many pet owners a pet trust is an integral part of their estate plan.

For more information please contact Peter King, HAUSWIESNER KING LLP, 8200 Greensboro Drive, Suite 900 McLean, VA 22102 (703) 462-5478

pking@h-klaw.com or visit their website at www.h-klaw.com