Search Results for: honorary trust

honorary trust

A noncharitable trust that is of doubtful validity because it lacks a beneficiary capable of enforcing the trust. • Examples include trusts for the care and support of specific animals, or for the care of certain graves. The modern trend is to recognize the validity of such trusts, if the trustee is willing to accept […]

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pet trust

A trust, usu. honorary, that is established for the care and maintenance of a particular animal or group of animals. • Pet trusts are generally invalid because animals are incapable of compelling a trustee to act, and animals have no standing in law. Effectively, the trust has no beneficiary. But some states (e.g., Colorado) statutorily

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