Virginia and Pet Trusts

More People Leave Big Inheritances To Fido, Fluffy, KSAT.com, Sept. 20, 2006, provides a discussion of Virginia’s pet trust statute which took effect on July 1, 2006.

Estate lawyer Montgomery Knight Jr. said he had one Richmond client who left $2.5 million to a horse. Distant relatives objected and a judge reduced the horse inheritance to $150,000. Knight added that another client left $35,000 for the care of a goose.

Special thanks to Christopher Below for bringing this article to my attention.

For more information of estate planning for pet owners, go here.