Exam A
OUTCOME: PLANNING FOR OUR PONIES
fter getting a demand letter from the barn’s lawyer, Mike realized he had goofed. He paid the board bill out of the estate assets, and agreed to give Willis to his sister. Jane continued to pay board on Willis at the reduced rate so that he could enjoy his “retirement.” If Mike and Jane hadn’t worked things out, a court
would have resolved the situation—either the probate court at Mike and Jane’s request, or a regular court in the event the barn had been forced to initiate litiga- tion over the unpaid board bill. A court would have been likely to order Willis be sold, or given Willis to the barn to satisfy the unpaid board bill. Either way, nei- ther Mike nor Jane was going to make any money on the horse, and Mrs. Jones’ unspoken wishes would not have been honored. Since Mrs. Jones had a will, she easily could have
expressed her wishes regarding Willis in that docu- ment. Some states permit “animal trusts” that allow animal owners to create and fund a trust that will provide for their animal(s) as they choose. Most states that have some kind of law permitting trusts for the benefit of an animal have slightly different require- ments, so it is important to work with an estate plan- ning attorney who is experienced with animal trusts
and who understands what the law in your state will require to accomplish your goals. However, if a person has a limited number of
animals, then the creation of an animal trust may be overkill. Including provisions in your will related to the care of an animal after your death is a relatively simple proposition. But unless you mention something about your animal(s) to your estate planning attorney, it is a detail that is commonly overlooked.
About the author: Krysia Carmel Nelson is an attorney from Virginia who is a nationally-recognized expert in equine law. Attor- ney Nelson represents horse owners, trainers, riders, breeders, equestrian facili- ties, farms, clubs and asso- ciations across all nationally and internationally recognized disciplines. As a life- long equestrian, she currently rides and competes her Hanoverian Affirmed on Appeal in the amateur hunters. She can be reached at
eqlaw@aol.com.
70 March/April 2014
© The Book LLC 2011
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