Pets are often some of our closest and most loyal family members and plans need to be in place to take care of them if we are no longer able to be there for them. Utah Code Section 75-2-1001 allows individuals to set aside money in a trust for their pet’s care and well being. These trusts are gaining popularity and should be considered by anyone who loves their pet.
If your pet passes away before the trust funds have been fully depleted the excess funds can be passed to other family members or loved ones. Contact Elliot Smith in South Jordan to get more information pet trusts and asset administration!
Elliot Smith is a licensed attorney and certified public accountant that can take care of your business needs. Whether you’re opening a new business, incorporating, or looking for tax services, Elliot Smith has the resources to serve you.