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Home / Firm Blog / Estate Planning / Pet Trusts
21
December
2015

Pet Trusts

MCL 700.2722 Honorary trusts; trusts for pets

A trust for the care of a designated domestic or pet animal is valid in Michigan. The trust terminates when no living animal is covered by the trust. The trust will be liberally construed by the probate court to carry out the general intent of the transferor. Note that the court may reduce the amount of the property transferred to this trust if it determines that that amount substantially exceeds the amount required for the intended use for the pets. The amount of the reduction, if any, passes as unexpended trust property to other beneficiaries under the trust or heirs.

Categories: Estate Planning

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