Thursday, February 28, 2019

Pet Trusts

Karl Lagerfeld, the famous fashion icon who died last week at the age 85, is believed to have taken extensive measures to provide for his pet cat Choupette after his death.  Mr. Lagerfeld, who also employed two private maids for Choupette, told the Numero fashion magazine last year that his cat was to inherit some of his fortune after his passing.  One way that Mr. Lagerfeld could have provided for his cat is through a pet trust. 

Pet trusts are valid in Florida. Florida Statute §736.0408 states that a trust may be created to provide for the care of an animal alive during the settlor’s lifetime.  This trust terminates upon the death of the animal.  Interested in learning more about pet trusts? Contact the experienced attorneys of Morris Law Group.