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Exam M


Test your knowledge of equine law. by Attorney Krysia Nelson


Planning for Our Ponies


rs. Jones, a wealthy widow, died on May 25, 2012. In her will, Mrs. Jones distributes her


estate between her two children, Mike and Jane. At the time of her death, Mrs. Jones owns a horse, “Willis,” that she boards at a barn in a nearby town. The cost of Willis’ board includes regular training and exercise which keeps Willis in top physical form. So long as Willis was exercised and shown on a regular basis, his value is estimated at around $100,000. Mrs. Jones did not specifically mention Wil- lis in her will. Upon Mrs. Jones’ death, Mike and Jane cannot agree on what to do with Willis. Mike wants to sell Willis and split the money with Jane. Jane, on the other hand, disagrees. Jane knows how much her mother adored Willis. Jane believes that Mrs. Jones would have been horri- fied at the thought of selling her beloved equine friend. Instead, Jane wants Mike to share the


Equine Litigation Consulting Certified Equine Appraisals Expert Witness


cost of Willis’ ongoing board at his current train- ing facility. The cost of Willis’ monthly board is $2000. Jane hopes that she can continue to en- joy Willis and watch him prosper, as her mother would have wanted. Mike is the executor of Mrs. Jones’ estate. As


Mike and Jane continue to fight over Willis’ future, Mike stops making the monthly board payments to Willis’ barn. As noted above, Mike doesn’t want to have to pay for Willis’ board, and instead wants the horse sold. When the barn stops receiving board payments on Willis’ behalf, it stops train- ing and exercising the horse. As a result, the barn reduces Willis’ monthly board bill from $2000 to $800. Due to the lack of training and exercise, however, Willis is not fit and cannot show at the top level. Every day that Willis is not exercised his value on the open market decreases. But this is not something that Mike seems to comprehend— he is just relieved that his mother’s “stupid horse” is costing him less money per month as he and his sister “do battle.” After months of grazing in the pasture, while


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Mike and Jane are fighting over their mother’s as- sets, Willis’ value decreases from approximately $100,000 to approximately $20,000. He is, after all, an older horse and now that he has lost condition- ing and muscle tone, there is even some question about whether he will pass the vet on a pre- purchase exam. Meanwhile, the barn is currently owed $18,000 in outstanding board payments and has asserted a lien on Willis.


☛ Turn the page for the outcome.


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