What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Substituted by A5985A
- Advanced to third reading
- 2nd report cal.
- 1st report cal.124
- Referred to judiciary
- Print number 3070a
- Amend and recommit to judiciary
- Referred to judiciary
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Eliminates the 21-year limit for the duration of pet trusts
Signed by Governor · Sponsor Deborah Glick
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the estates, powers and trusts law, in relation to eliminating the 21-year limit for the duration of pet trusts
Purpose or general idea of bill
To eliminate the 21 years limit for the duration of pet trusts
Summary of specific provisions
Section1. The section heading and subdivision (a) and (b) of section 7-8.1 of the estates, powers and trusts law, as added by chapter 159 of the laws of 1996, such section as renumbered by chapter 630 of the laws of 2003 is amended to remove the 21 year maximum time period on the pet trust.
Justification
Passing this bill will allow for people to not have a set limit on how long they can keep their pet under trusts. The laws of 1996 are problematic for pet owners of animals other than dogs and cats. Those laws were created for those domestic animals with shorter life spans. Animals such as horses with the average life span of 30 years and certain species of birds are not protected for their full life expectancy. Young pets and pets with long life expectancies tend to out live the time period in which they are covered by the trust. Allowing pet trust to continue until no animal is covered under it would be useful in order to ensure pet owners that even their young animals will be covered for the full life after their death. Pet owners should have the option available to make these trusts last for the lifetime of their pet.
Prior legislative history
New Bill.
Fiscal implications
To be determined.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.