Utah Code 75-2-1001. Honorary trusts — Trusts for pets
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(1) Subject to Subsection (3) , if a trust is for a specific lawful noncharitable purpose or for a lawful noncharitable purpose to be selected by the trustee and there is no definite or definitely ascertainable beneficiary designated, the trust may be performed by the trustee for 21 years but no longer whether or not the terms of the trust contemplate a longer duration.
Terms Used In Utah Code 75-2-1001
- Application: means a written request to the registrar for an order of informal probate or appointment under Chapter 3, Part 3, Informal Probate and Appointment Proceedings. See Utah Code 75-1-201 v2
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
- Court: means any of the courts of record in this state having jurisdiction in matters relating to the affairs of decedents. See Utah Code 75-1-201 v2
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Governing instrument: means a deed, will, trust, insurance or annuity policy, account with POD designation, security registered in beneficiary form (TOD), pension, profit-sharing, retirement, or similar benefit plan, instrument creating or exercising a power of appointment or a power of attorney, or a dispositive, appointive, or nominative instrument of any similar type. See Utah Code 75-1-201 v2
- Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Utah Code 75-1-201 v2
- Trust: includes :(60)(a)(i) a health savings account, as defined in Section 223of the Internal Revenue Code;(60)(a)(ii) an express trust, private or charitable, with additions thereto, wherever and however created; or(60)(a)(iii) a trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust. See Utah Code 75-1-201 v2
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional, and successor trustee, and cotrustee, whether or not appointed or confirmed by the court. See Utah Code 75-1-201 v2
(2) Subject to this Subsection(2) and Subsection(3) , a trust for the care of a designated domestic or pet animal is valid. The trust terminates when no living animal is covered by the trust. A governing instrument shall be liberally construed to bring the transfer within this subsection, to presume against the merely precatory or honorary nature of the disposition, and to carry out the general intent of the transferor. Extrinsic evidence is admissible in determining the transferor’s intent.(3) In addition to the provisions of Subsection(1) or(2) , a trust covered by either of those subsections is subject to the following provisions:(3)(a) Except as expressly provided otherwise in the trust instrument, no portion of the principal or income may be converted to the use of the trustee or to any use other than for the trust’s purposes or for the benefit of a covered animal.(3)(b) Upon termination, the trustee shall transfer the unexpended trust property in the following order:(3)(b)(i) as directed in the trust instrument;(3)(b)(ii) if the trust was created in a nonresiduary clause in the transferor’s will or in a codicil to the transferor’s will, under the residuary clause in the transferor’s will; and(3)(b)(iii) if no taker is produced by the application of Subsection(3)(b)(i) or(ii) , to the transferor’s heirs under Section75-2-711 .(3)(c) For the purposes of Section75-2-707 , the residuary clause is treated as creating a future interest under the terms of a trust.(3)(d) The intended use of the principal or income can be enforced by an individual designated for that purpose in the trust instrument or, if none, by an individual appointed by a court upon application to it by an individual.(3)(e) Except as ordered by the court or required by the trust instrument, no filing, report, registration, periodic accounting, separate maintenance of funds, appointment, or fee is required by reason of the existence of the fiduciary relationship of the trustee.(3)(f) A court may reduce the amount of the property transferred, if it determines that that amount substantially exceeds the amount required for the intended use. The amount of the reduction, if any, passes as unexpended trust property under Subsection(3)(b) .(3)(g) If no trustee is designated or no designated trustee is willing or able to serve, a court shall name a trustee. A court may order the transfer of the property to another trustee, if required to assure that the intended use is carried out and if no successor trustee is designated in the trust instrument or if no designated successor trustee agrees to serve or is able to serve. A court may also make such other orders and determinations as shall be advisable to carry out the intent of the transferor and the purpose of this section.