Animal Trust: All Dogs go to the Bank

When people are preparing for the end of their life, there is often one piece that gets overlooked. While an important part of many people’s lives, pets are often left out of the picture when it comes to settling estates. Under legislation heard this week, Minnesota would join a list of 48 states that have laws in place to support pets who survive their owners.

The bills gives people the authority to create a trust to provide for the care of an animal that survives its owner. Money would be deposited into the trust, and then used by an authorized person to provide care for the animal after the original owner’s death. If the value of the trust exceeds the amount required for its intended use, the trustee is directed to transfer the funds according to the terms of the trust, or to the heirs-at-law in the event the trust is silent on that issue.

The bill was recommended to pass and moves to the Senate Floor. (S.F. 1196)

Senate DFL Media