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New NY Law Expands Pet Trusts

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puppy's serious life by Victor Bezrukov on Flickr

Photo by Victor Bezrukov on Flickr

Has the New York State Legislature gone to the dogs? Nah, we think they’ve just heard that it’s National Make-A-Will Month.

What’s all this barking about? Well, New York has recently passed a law allowing pet trusts—which provide money for pet care after an owner’s death—to last for longer than 21 years, the previous time limit.

The 21-year restriction simply wasn’t long enough for many pets, according to supporters of the legislation. “Parrots can live 50 to 75 years,” said Assemblywoman Deborah Glick, D-Manhattan, who sponsored the bill.

Pet trusts and other provisions can be important parts of the estate plans of animal lovers. Perhaps the most famous well-to-do pooch is Doris Duke’s dog Minnie, who was left with a $100 million trust for her care upon Duke’s death; word has it that the furry friends of Betty White and Oprah Winfrey are also in for some serious windfalls when their wealthy mistresses pass away.

But you don’t need to be a billionaire to plan ahead for the care of your pet after your demise. Indeed, this should be a primary concern of all animal lovers who want to make sure their pets are well taken care of for as long as the pets live. Not only can you leave aside money, you can also choose who you would like to be responsible for your pet’s care.

And did you know LegalZoom.com can help?

A Pet Protection Agreement can help you have some peace of mind when it comes to what will happen to your pet after your death:

Developed in conjunction with one of the nation’s foremost experts on animal law, Rachel Hirschfeld, a Pet Protection Agreement lets you appoint a responsible pet guardian and leave funds for your pet’s care. Most importantly, it could save your pet’s life in a time of confusion.

For more information, check out LegalZoom’s Pet Protection Agreement services.

Have you planned for your pet’s care after your death?

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