§ 15-5-408 — Trust for care of an animal

Subject to this section and section 15-5-409.5, a trust for the care of designated domestic or pet animals and the animals'
offspring in gestation is valid. For purposes of this section, the determination of the
animals' offspring in gestation is made at the time the designated domestic or pet
animals become present beneficiaries of the trust. Unless the trust instrument
provides for an earlier termination, the trust terminates when no living animal is
covered by the trust. A trust instrument must be liberally construed to bring the
trust within this section, to presume against the merely precatory or honorary
nature of its disposition, and to carry out the general intent of the settlor. Extrinsic
evidence is admissible in determining the settlor's intent. Any trust pursuant to this
section is an exception to any statutory or common law rule against perpetuities.

Legislative History

Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1161, � 1, effective January 1, 2019.