New York exempts pet trusts from the Rule Against Perpetuities

New York eliminated the 21-year limit for the duration of pet trusts and provided that pet
trusts terminate when the living animal beneficiary or beneficiaries of the trust are no longer alive. 

2010 Sess. Law News of N.Y. Ch. 70 (effective May 5, 2010).

Special thanks to William P. LaPiana (Rita and Joseph Solomon Professor of Wills, Trusts, and Estates and Director of Estate Planning, Graduate Tax Program New York Law School) for bringing this development to my attention.