Making Sure to Provide for Your Pets
By: Alex Rechenmacher

Since 2005, concerned pet owners have been able to assure financial stability and comfort for some of their most valuable legacies or commodities – their pets. An amendment to the Trusts and Trustees Act allows individuals to create trusts and direct trustees to care for their beloved pets beyond death. This law gives certain domestic animals the peculiar legal status as both items of property to be bequeathed and potential beneficiaries of a trust.

The trustees of these “Pet Trusts” are directed to expend the funds of the trust for the benefit of the pet, who may then require food, comfort and even medical care following death or incapacity. The Trust terminates when there is no remaining living animal covered by the Trust. 760 ILCS 5/15.2

When the animal passes away, the trustee must transfer the unexpended property as directed, or under a residuary clause in the testator’s estate plan. If the amount of money set aside for the animal is unusually excessive, Illinois courts have the power to reduce the amount of the gift. Interestingly, Illinois courts also have the power to appoint a trustee for these trusts if necessary.

Finally, as another unusual twist, “Pet Trusts” are exempt from the common rule against perpetuities, which prevents trusts from existing indefinitely. Thanks to this exemption, even your turtles and parrots can be cared for during their full, long lifetime even if you leave no other heirs.