N.Y. EPT Law § 7-8.1
This is the official text of N.Y. EPT Law § 7-8.1, part of New York’s EPT Law — part of the compiled statutory law of New York, published by the state as "EPT Law." Browse the sections below, each linked to its official government source.
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Trusts for pets
Official statutory text
§ 7-8.1 Trusts for pets\n (a) A trust for the care of a designated domestic or pet animal is\nvalid. The intended use of the principal or income may be enforced by an\nindividual designated for that purpose in the trust instrument or, if\nnone, by an individual appointed by a court upon application to it by an\nindividual, or by a trustee. Such trust shall terminate when the living\nanimal beneficiary or beneficiaries of such trust are no longer alive.\n (b) Except as expressly provided otherwise in the trust instrument, no\nportion of the principal or income may be converted to the use of the\ntrustee or to any use other than for the benefit of all covered animals.\n (c) Upon termination, the trustee shall transfer the unexpended trust\nproperty as directed in the trust instrument or, if there are no such\ndirections in the trust instrument, the property shall pass to the\nestate of the grantor.\n (d) A court may reduce the amount of the property transferred if it\ndetermines that amount substantially exceeds the amount required for the\nintended use. The amount of the reduction, if any, passes as unexpended\ntrust property pursuant to paragraph (c) of this section.\n (e) If no trustee is designated or no designated trustee is willing or\nable to serve, a court shall appoint a trustee and may make such other\norders and determinations as are advisable to carry out the intent of\nthe transferor and the purpose of this section.\n
Status: in_force · Read it on the official government site
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