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Senate Bill S3070

Signed By Governor

2009-2010 Legislative Session

Eliminates the 21-year limit for the duration of pet trusts

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Archive: Last Bill Status Via A5985 - Signed by Governor

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Bill Amendments

2009-S3070 - Details

2009-S3070 - Summary

Eliminates the 21-year limit for the duration of pet trusts; provides that such trusts shall terminate when the living animal beneficiary or beneficiaries of such trust are no longer alive.

2009-S3070 - Sponsor Memo

2009-S3070 - Bill Text download pdf

2009-S3070A (ACTIVE) - Details

2009-S3070A (ACTIVE) - Summary

Eliminates the 21-year limit for the duration of pet trusts; provides that such trusts shall terminate when the living animal beneficiary or beneficiaries of such trust are no longer alive.

2009-S3070A (ACTIVE) - Sponsor Memo

2009-S3070A (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3070--A

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 10, 2009
                               ___________

Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
  printed to be committed to the Committee  on  Judiciary  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN ACT to amend the estates, powers and trusts law, in relation to elim-
  inating the 21-year limit for the duration of pet trusts

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The section heading and subdivisions (a) and (b) of section
7-8.1 of the estates, powers and trusts law, as added by chapter 159  of
the  laws of 1996, such section as renumbered by chapter 630 of the laws
of 2003, are amended to read as follows:
  [Honorary trusts] TRUSTS for pets
  (a) A trust for the care of a designated domestic  or  pet  animal  is
valid. The intended use of the principal or income may be enforced by an
individual  designated  for  that purpose in the trust instrument or, if
none, by an individual appointed by a court upon application to it by an
individual, or by a trustee. Such trust shall terminate  when  [no]  THE
living  animal  [is  covered  by  the trust, or at the end of twenty-one
years, whichever occurs earlier] BENEFICIARY OR  BENEFICIARIES  OF  SUCH
TRUST ARE NO LONGER ALIVE.
  (b) Except as expressly provided otherwise in the trust instrument, no
portion  of  the  principal or income may be converted to the use of the
trustee or to any use other than for the  benefit  of  [a]  ALL  covered
[animal] ANIMALS.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01639-03-9

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